Retail Week looks ahead to the next seven days, with updates from Marks & Spencer, Asos, Ocado, Dunelm and Burberry all on the agenda.
Marks & Spencer
The high street stalwart hosts its AGM on Tuesday. Marks & Spencer is on a mission to generate a third of its sales digitally and is radically reshaping its business to be fit for that multichannel future under boss Steve Rowe and chairman Archie Norman.
The retailer has penned a partnership with Microsoft and is shutting stores across the UK as part of that drive. All eyes will be on Norman at the AGM, where he will deliver his first chairman’s address to shareholders since taking on the role.
The online grocer and technology business unveils its half-year results on Tuesday. Ocado has penned a raft of international deals over the past year as it ramps up efforts to license its proprietary warehouse and logistics technology to overseas retailers.
It has already done deals with Sobey’s in Canada, French grocer Casino, and US giant Kroger. Those tie-ups will not feed through to the bottom line immediately, but are central to Ocado’s future growth plans.
The BRC-KPMG reveal their latest sales data for June on Tuesday. Retail sales bounced back in May as the warmer weather, the FA Cup Final and the Royal Wedding boosted consumer spending.
Sales increased 2.8% on a like-for-like basis year on year, and retail watchers will be expecting the World Cup and Wimbledon to have proved catalysts for continued momentum.
The luxury fashion retailer and brand updates the market with details of its first-quarter trading performance on Wednesday. Burberry’s profits rose 5% to £410m during the year to March 31, as new boss Marco Gobetti hailed “promising early signs” in its transformation plan.
The business has reshaped its board, cut costs and is placing a greater emphasis on ecommerce as part of its strategy.
The online fashion retailer posts details of its third-quarter performance on Thursday. Asos named former ITV and Royal Mail boss Adam Crozier as its new chairman last week, to replace the outgoing Brian McBride.
Attracting a chairman of Crozier’s calibre underscores the extent of the etailer’s growth story, and analysts will be expecting the business to report another quarter of strong growth.
The homewares business reveals its fourth-quarter trading update on Thursday. Dunelm warned on profits at the end of May after trading proved “materially more challenging than expected”. At the time, it said store like-for-likes had slid 4.7% since the start of the quarter, which began on April 1.
Analysts will be hoping to see signs that Dunelm has managed to mitigate any further sales declines since its bleak statement.
World Cup and Wimbledon finals
Football’s World Cup and the Wimbledon tennis championships both reach a climax on Sunday as excitement reaches fever pitch. England have had their best run in the tournament since reaching the quarter finals in 2006 and retailers have reaped rewards from their success and the warmer weather.
Wimbledon should provide a further sales boost, particularly for the grocers, with sales of Pimm’s, strawberries and cream expected to increase in the build-up to the final.