...Sector and Sub-Sectors: This report presents the key peer comparator elements observed or expected for non-food retail companies. Non-food retail includes sectors such as department stores and specialty retailers in the apparel, auto parts, consumer electronics, home improvement, office supply and toy categories. This report does not cover retailers with a significant proportion of food in their merchandise mix, including supermarkets, discounters and warehouse clubs. Key Factors: The Sector Risk Profile defines and groups companies operating in the sector into a "natural rating territory" based on Fitch Ratings' view of the inherent risk profile of the industry. Each company's overall risk profile generally does not stray too far from this rating range. After assessing the Operating Environment, then Management and Corporate Governance, the Navigator examines four Sector-Specific factors for given rating levels. Finally, three Financial Profile factors help capture financial attributes...
