Retail Week looks ahead to the next seven days, with updates from Booho and N Brown and Carpetright’s CVA vote on the agenda.
The etailer will report its final results on Wednesday, April 25. Boohoo can usually be counted on to reveal stellar results, but investors have been nervous in recent months as the company’s ability to compete with powerhouse Asos has been called into question, and the share price tumbled in response. However, its sales soared 100% over the festive period, leading Boohoo to increase its sales guidance for the year. It now expects growth of 90% against 80% previously.
The specialist fashion retailer will post its final numbers on Thursday. April 26. N Brown has had a good run recently, securing Tesco’s Matt Davies as chairman, making several other key hires and partnering with both Amazon and Zalando. Group sales inched up 3.2% during its golden quarter, with its power brands growing at 7.3%.
Thursday also brings the creditors’ vote on the flooring specialist’s CVA. Carpetright hopes to shutter more than 90 stores and slash rents at more than 100 other sites but will need a 75% approval rate from creditors. It also plans to raise £60m through an equity capital raising next month. The shareholders’ vote is to be held on April 30, when Carpetright will also post a trading update.