Retail Week looks ahead to the next seven days with JD Sports and Card Factory updates on the agenda.
Card Factory posts its full year results on Tuesday. Last year saw the card specialist’s pre-tax profits decline 12% to £72.6m in the year to January 31.
The retailer warned on profits at its last update when it suffered a 0.2% dip in like for likes. It blamed a “weak consumer environment and extreme weather”.
With that update came a profit warning and the retailer expects full-year profits to be in the range of £89m-£91m, between 3% and 5% below analysts’ previous consensus.
JD Sports posts its full-year results on Tuesday.
The sportswear retailer said in January it expects full-year pre-tax profit to be “at the upper end” of market expectations, which range from £325m to £352m.
Sports Direct’s biggest rival has been set on expanding its business and bought Liam Gallagher-founded fashion retailer Pretty Green out of administration earlier this month. The retailer also made a £90m cash offer for failing shoe retailer Footasylum in March.
JD Sports executive chair Peter Cowgill said: “We believe that there will be significant operational and strategic benefits through the combination of the very experienced and knowledgeable management team at Footasylum and our own expertise.”
ONS retail sales figures
The Office for National Statistics will publish its retail sales figures for March on Thursday.
Retail sales showed “strong growth” year on year in February, up 4.1% by value and 3.8% by volume excluding fuel.
In the last three months, sales grew 3.9% by value and 3.6% by volume excluding fuel, compared to the same period in 2018.