Retail Week looks ahead to the next seven days with updates from AO.com and Card Factory and the result of the Arcadia CVA vote on the agenda.
AO.com posts its preliminary results on Tuesday.
The electricals retailer posted an increase in third-quarter sales reinforced by its “highest sales month ever” during the Black Friday trading period across November. Group revenues climbed 8.2% during the three months to December 31.
Former chief executive Steve Caunce said: “We expect full-year results to fall within the range of board expectations, albeit more second-half-weighted than previously anticipated.”
Founder John Roberts returned to lead the business in February, replacing Caunce with immediate effect. This will be Roberts’ first full-year results since being back at the helm.
BRC-KMPG retail sales
The BRC-KPMG retail sales survey for May is released on Tuesday.
Retail sales were “below expectations” in April despite the Easter weekend, but like-for-like sales increased 3.7%.
Total retail sales for the month saw a 4.1% uptick, against a downturn of 3.1% in April 2018. This was above both the three- and 12-month average increases of 1.2% and 1.4% respectively.
Card Factory posts a trading update on Wednesday.
The greeting card specialist posted a fall in full-year profits due to lower footfall but will continue its growth strategy with the aim of 1,200 stores.
Cardfactory.co.uk sales increased 56.3% during the year ending January 31, albeit from a lower base, though the retailer reported gettingPersonal.co.uk sales dropped 8.4%.
Chief executive Karen Hubbard said the retailer doesn’t see any advantage of merging the two together.
Acadia CVA vote
Arcadia will find out its fate on Wednesday as the outcome of the CVA vote is announced.
As part of the restructuring strategy Sir Philip Green plans to shutter 23 stores in the UK and all of its 11 US stores along with reorganising the Arcadia pension fund.
If the CVA is rejected it is likely the struggling fashion empire will go under.
FTSE 100 Index review
The FTSE 100 quarterly index review is unveiled on Wednesday.
All eyes will be on M&S – which is on the cusp of being relegated from the top 100 list of Britain’s wealthiest listed companies, a consequence of a £600m rights issue to fund its joint venture with Ocado.
Fashion retailer Joules posts a pre-close update on Thursday.
Joules, which will celebrate its 30th anniversary this year, recorded strong Christmas sales during the festive trading period, up 11.7% in the seven weeks to January 6.
The fashion retailer recorded a 14.7% uplift in underlying pre-tax profit to £10.7m in the 26 weeks to November 25, 2018, driven by a 17.6% climb in group revenue to £113.1m.
The retailer’s international revenue soared 64.2% during the period to represent 15.8% of overall group revenue, while the number of active customers increased 20% to 1.4 million.