Retail Week looks ahead to the next seven days, with updates from Asda and Kingfisher.
Kingfisher
The DIY retailer will report its second-quarter trading on Thursday. Kingfisher, which should have benefited from the Bunnings’ misadventures with its acquisition and subsequent disposal of Homebase, is expected to report an improvement on its previous quarter when like-for-likes at B&Q were battered by the ‘beast from the east’. The business’ One Kingfisher plan will reach its halfway point in September and the onus will be on group boss Veronique Laury to illustrate the firmer foundations being laid by her radical blueprint.
Asda
The grocery giant will also post its second-quarter trading on Thursday. Asda’s pre-tax profits shrank 10% last year despite an increase in like for likes. The supermarket, which is set to merge with Sainsbury’s, said operating profit was in line with expectations and that the decrease was driven by planned strategic investments in price, quality and service. Those investments led to like-for-like growth over four consecutive periods after a period of tough trading for the Walmart-owned grocer. Like for likes grew 1% over the first quarter of 2018.
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