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July 19, 2022

Filings buzz: 127% increase in cloud computing mentions in Q1

Mentions of cloud computing within the filings of companies in the fashion industry rose 127% between the final quarter of 2021 and the first quarter of 2022.

By Data Journalism Team

In total, the frequency of sentences related to cloud computing between April 2021 and March 2022 was 54% lower than in 2016 when GlobalData, from where data for this article is taken, first began to track the key issues referred to in company filings.

When fashion and accessories companies publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Cloud computing is one of these topics - companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.

To assess whether cloud computing is featuring more in the summaries and strategies of fashion and accessories companies, two measures were calculated. Firstly, we looked at the percentage of companies that have mentioned cloud computing at least once in filings during the past 12 months - this was 43% compared to 35% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to cloud computing.

Of the ten biggest employers in the fashion industry, Christian Dior was the company that referred to cloud computing the most between April 2021 and March 2022. GlobalData identified four cloud-related sentences in the France-based company's filings - 0.1% of all sentences. VF mentioned cloud computing the second most - the issue was referred to in 0.02% of sentences in the company's filings.

The analysis provides an approximate indication of which companies are focusing on cloud computing and how important the issue is considered within the fashion industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning cloud computing more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into cloud computing have been successes or failures.

In the last quarter, fashion and accessories companies based in the United States were most likely to mention cloud computing with 0.04% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in Western Europe mentioned cloud computing in just 0.01% of sentences.

Mentions of digitalization within the filings of companies in the fashion industry fell 30% between the first and second quarters of 2022.

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