Retail Week looks ahead to the next seven days, with Mike Ashley’s meeting with MPs and updates from McColl’s, Joules and Ted Baker on the agenda.
Mike Ashley appears before MPs
The notorious retail mogul will meet with MPs on the Housing, Communities and Local Government Committee on Monday.
The committee is running an inquiry into “high streets and town centres in 2030” and Ashley has “demanded to go along in person for a full hour”.
The convenience specialist will post a full-year trading update on Tuesday. The retailer will hope to have regained sales momentum after its revenue in previous quarters was dampened by supply chain disruption following the collapse of Palmer & Harvey.
McColl’s posted a 12% rise in revenue in the year to date in its third-quarter results in September.
The fashion retailer will post its interim trading update on Wednesday. A stalwart for defying the fashion downturn, City eyes will be on Joules to see if it has maintained sales momentum.
Joules recorded an 18.4% jump in full-year sales to £186m in July.
The fashion retailer will record its third-quarter trading update on Thursday. It recorded an uncharacteristically subdued set of results at the interim mark when its pre-tax profit declined 3.2% to £24.5m.
Ted Baker will hope to have grown its sales momentum, which was up 3.5% at the half-year mark.