Retail Week looks ahead to the next seven days, with updates from Card Factory and SCS, plus the BRC KPMG retail sales figures.
The monthly gauge of how the retail industry is faring will be published on Tuesday, revealing performance for July. In June, like for likes advanced 1.1% year on year and were ahead 2.3% in total – above both the three- and 12-month averages. World Cup fever and good weather helped sales, but BRC chief executive Helen Dickinson cautioned: “With household incomes still barely growing faster than inflation, conditions for consumers and retailers remain extremely tough.”
The sofa specialist will post its third-quarter trading update on Wednesday. SCS’ revenues rose at its half-year update but the retailer’s sales were hit by the beast from the east. Despite that, SCS said it expected to meet full-year expectations and the market will be looking for assurance that it is still on course to meet that target.
The specialist retailer will report a half-year update on Thursday. Card Factory’s bottom line took a knock in its last full year as increased sourcing and wage costs ate into profits. The value card specialist said pre-tax profits declined 12% despite total sales jumping 6% to £422.1m during the period, while like for likes advanced 2.9%. The retailer is planning to launch its first pop-up and clearance stores this year as part of a new trial.