Retail Week looks to next week with updates from M&S and Topps Tiles and full-year figures from Moss Bros and Card Factory on the agenda.
The retailer unveils its preliminary results on Tuesday. In January, Card Factory said it would report full-year profits in line with expectations after revealing that like-for-like sales rose 2.8% in the 11 months to December 31. Total sales jumped 8.1% over the period, driven by like-for-like growth, new stores and its online business.
The formal menswear specialist posts its full-year results on Tuesday, seeking to build on a stellar first-half performance. Its boss Brian Brick hailed “strong performance” in the six months to August 1, 2015 when like-for-likes jumped 9.7%. Pre-tax profits in the period jumped 44% to £2.8m. Since that announcement, Moss Bros has poached Charles Tyrwhitt finance director Tony Bennett and drafted in Paula Minowa as chief operating officer as it eyes its next phase of growth, including stores in the Middle East.
The retailer reveals its interim results on Wednesday. Topps Tiles hailed an “encouraging” start to the financial year as its strategy bore fruit with a 4.4% increase in like-for-like sales during its first quarter. The business is focusing on “out-specialising the specialists” by focusing on inspiring shoppers, range enhancements and convenience.
Marks & Spencer
City analysts will be looking for signs of revival within Marks & Spencer’s fashion business when it posts a fourth-quarter trading update on Thursday. However, tough conditions for clothing retailers, highlighted by Next last week, are likely to have been felt at M&S. Chief executive Marc Bolland will step down from the retailer on April 2 – the end of its financial year – but will “remain available” to new boss Steve Rowe until June 30 to assist the transition.
The soft furnishings specialist updates the market on its third-quarter performance on Thursday. Dunelm posted a 10.7% uplift in half-year pre-tax profits to £75.5m back in February, as store like-for-likes climbed 3.4% during the 26-week period. The retailer has around 150 stores, but new boss John Browett has targeted London as its main area for expansion as it presses ahead with plans to reach 200 stores across the UK.