Retail Week looks ahead to the next seven days with updates from Asos, Footasylum and Gear4Music, plus the latest grocery sales data, all on the agenda.
The footwear specialist posts its interim results on Tuesday. Footasylum’s share price has tanked since it floated last November – particularly after a shock profit warning in September – and investors will be seeking assurances around how the athleisure operator plans to turn its fortunes around. Footasylum has blamed its woes on “challenging” high street conditions and “weak consumer sentiment”, though rivals such as JD Sports continue to grow strongly.
The musical instruments etailer reveals its half-year results on Tuesday. Gear4Music suffered a 43% slump in pre-tax profit in the 12 months to February 28 and investors will be seeking signs that the bottom line is now moving in the right direction following what the business called “a transformational year of investment”.
Kantar and Nielsen will both provide their latest temperature checks on the grocery sector on Tuesday. Shoppers spent an extra £500m on groceries in the 12 weeks to September 9 as the summer heatwave and the World Cup boosted sales. Asda led the big four charge, growing revenues 3.9% year on year, and supermarket chains will hope to continue that momentum.
The fashion etialer unveils its preliminary results on Wednesday. Asos said in June it would deliver a full-year profit in line with analysts’ consensus of £101m after group revenues climbed 22% to £823.9m in the four months to June 30. Its share price has stuttered over the past month, falling from 6,046p in mid-September to below the 5,000p mark.