Retail Week looks ahead to the next seven days, with H&M’s capital markets day, ONS retail sales data, Valentine’s Day and Chinese New Year on the agenda.
The fashion giant is holding its capital markets day on Wednesday, February 14. H&M’s recent results revealed plunging profits despite a rise in sales, with the retailer admitting that it had made strategic mistakes.
Despite a small rise in sales in the year to November 2017, H&M missed its growth forecasts and profits dropped by around 10%. Its all-important festive quarter saw sales drop while profits fell off a cliff.
It blamed the bricks-and-mortar presence of its main fascia for its woes and gave top-line detail of plans to help it get back on track. It is expected to give more detail on those plans at its capital markets day.
Wednesday also brings a mid-week Valentine’s Day, guaranteeing good trading for card retailers, florists and confectioners.
January retail sales will be published on Friday, February 16. According to the Office for National Statistics (ONS), December’s retail sales suffered their worst volume growth in seven years and so January’s figures will be especially illuminating.
Chinese New Year
Chinese New Year falls on Friday, February 16 this year. The West End will be best placed to benefit from a spike in spend – sales in the district to Chinese shoppers were up 121% in the week prior to the main event last year.