A Financial Performance Evaluation in the Retail Sector with the MAIRCA and CRITIC Methods

Yunus Emre Kahraman

Fiscaoeconomia, 2025, issue 4

Abstract: The retail sector is in a constant transformation parallel with economic fluctuations and changing consumer demands. The purpose of this study is to analyze the financial performance of firms in the retail sector between 2014 and 2023 using the CRITIC and MAIRCA methods. While the CRITIC method determines the importance levels of financial indicators of firms, the MAIRCA ranks firms by comparing their annual performances. These analyses aim to identify the leading and declining firms in the sector based on financial indicators such as return on assets, liquidity, productivity, and debt utilization ratios. As a result, Metro Petrol and Tesisleri has maintained its leadership over the years, while firms such as Artemis Halı and Doğan Holding have also been ranked highly, and firms such as Bim Mağazalar and Migros Ticaret have shown more stable performances, thereby improving their rankings in some years. The study aims to contribute to the determination of strategic financial orientations for the retail sector by assessing the strengths and weaknesses of firms in the sector.

Keywords: Financial Performance; Retail Sector; MAIRCA; CRITIC (search for similar items in EconPapers)
JEL-codes: G30 M12 O47 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:fis:journl:250412

DOI: 10.25295/fsecon.1675716

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