Retail Week looks ahead to the next seven days, with updates from Dunelm, John Lewis Partnership, Morrisons, Next and Primark on the agenda.
Primark owner Associated British Foods will issue a pre-close update on Monday, September 11. The fashion chain posted a jump in profits and sales during its first half as new store openings boosted revenues.
Operating profits lifted 3.2% while sales were up 11%. In the UK, total sales rose 7% and like-for-likes were up 2%. Investors will be keen to see whether Primark has managed to sustain this performance or whether it has fallen prey to the troubled fashion market.
The homewares business reports its preliminary results on Wednesday, September 13. It will be intriguing to find out what progress it is making on appointing a new chief executive following the abrupt exit of John Browett late last month.
Investors will be looking for reassurance that the business is in safe hands following Browett’s departure.
Dunelm suffered a 26% drop in pre-tax profits at its half year, and that’s not a performance that management will want to repeat.
The convenience retailer, which is set to merge with Tesco, will update the market with its second quarter results on Thursday, September 14. Booker achieved a 4.2% sales rise in its first quarter and Tesco executives will be hoping that boss Charles Wilson will unveil more of the same.
John Lewis Partnership
The partnership will report its interim results on Thursday, September 14. John Lewis’ last full-year saw the business tighten its belt by cutting the staff bonus and prudently strengthening its position for the long term. The market will be watching to see how chairman Charlie Mayfield’s narrative develops.
Another interim update on Thursday, September 14 comes from Morrisons. The grocer is on the up at the moment, after notching up its first full-year of profit and like-for-like sales growth since 2012 at its full-years in March.
Add to that its tie-up with McColls and chief executive David Potts is anticipated to deliver strong results.
The Lord Wolfson-run business will also reveal its interim results on Thursday, September 14. Next’s fortunes have changed in recent years and investors will be looking for improved figures brought about by improvements in product but may be unlucky: Wolfson has already reduced the upper end of its full-year profit guidance following a slump in first quarter sales.
Retail Week Tech.
Wednesday September 13 and Thursday September 14 also bring Retail Week Tech. Our two-day conference and awards will showcase the best tech innovation in retail and provide inspiration from leading businesses outside the industry.