Retail Week looks ahead to the next seven days with updates from Asda, Kingfisher and Burberry on the agenda
The property firm will report its annual results on Tuesday. Landsec’s pre-tax profits rose from £34m to £42m in its last half-year, while retail rental income nudged up from £171m to £175m. The business said the value of its retail property had fallen significantly, though it managed to stem falling rental income.
World Retail Congress runs from Tuesday to Thursday in Amsterdam. This year’s theme is High Velocity Retail – sessions will focus on the speed and dynamism required to succeed in today’s retail environment. Speakers include Yoox Net-a-Porter chief executive Federico Marchetti and Walmart International boss Judith McKenna.
The landlord will post its annual results on Wednesday. British Land made £283m in pre-tax profits in its last half-year but chief executive Chris Grigg highlighted the “challenging” retail environment as a particular pain point.
The DIY giant is reporting its first-quarter results on Wednesday. Shareholders will be watching for any news of a successor to outgoing chief executive Véronique Laury, who announced she would be exiting the business at the time of its annual results, when profits crashed, despite being only midway through her transformation plan.
The luxury player will post its final results on Thursday. Burberry boss Marco Gobbetti hailed “promising early signs” in its transformation plan at its previous annual results as profits rose 5% despite flat sales. Burberry drafted in Givenchy’s Riccardo Tisci to succeed former chief creative officer Christopher Bailey in March last year, and analysts will be intrigued to see how Tisci’s designs have performed.
The grocery giant will report its first-quarter update on Thursday. Having failed to get Asda’s merger with Sainsbury’s past the Competition and Markets Authority, Walmart has faced speculation that it wants to exit the Asda business by selling to a trade buyer or private equity, or by listing the business on the stock exchange. Despite Asda’s strong position in the market, UK grocery is not an attractive prospect for investment and investors will be looking for reassurance from management.