Retail Week looks ahead to the next seven days with financial updates from Marks & Spencer, Sainsbury’s, Burberry, Halfords and SuperGroup all on the agenda.
The BRC and KPMG reveal their latest retail sales data on Tuesday, with the sector hoping to build some momentum. Retail sales growth hit its highest level this year in September, while food delivered its best quarter in almost three years. According to last month’s data, sales climbed 0.4% on a like-for-like basis during the five weeks to October 1.
Marks & Spencer
The high-street giant will be in the spotlight when it posts interim results on Tuesday. Marks & Spencer’s ailing clothing and homeware sales tumbled 8.9% in its first quarter. But the eyes of the City will also be on the results of a property review, with boss Steve Rowe poised to unveil details of store closures.
The supermarket giant will unveil its half-year results on Wednesday. Sainsbury’s like-for-likes fell 1.1% during its second quarter – the 16 weeks to September 24 – but boss Mike Coupe insisted it would “continue to outperform” its big four rivals. The grocer is in the process of integrating Argos and Habitat within its business following the £1.4bn acquisition of Home Retail Group and unveiled its “supermarket of the future” in Nine Elms last month.
The luxury fashion retailer and brand reveals its interim results on Wednesday. Burberry’s like-for-likes fell 3% in its first quarter – the three months to June 30 – as it suffered sales falls in Europe, Asia and the Americas. Its incoming boss Marco Gobbetti will be hoping to see signs of a sales revival as he prepares to take the reins from Christopher Bailey next year.
The cycling and automotive specialist posts its half-year results on Thursday. Halfords’ like-for-like sales climbed 1.2% over the summer as warm weather and the Olympics boosted its cycling division. Investors will hope that has been converted into profit growth as boss Jill McDonald continues to put her stamp on the business.
The fashion behemoth updates the market with its first-quarter trading performance on Thursday, seeking to build on a strong 2015/16. SuperGroup’s underlying pre-tax profits jumped 16.3% to £73.5m in the year to April 23, as total sales spiked 21.3% to £590.1m. But boss Euan Sutherland is targeting further growth and claims the business can double its sales within the next three years.