Retail Week looks ahead to the next seven days with results from MySale and Moss Bros, plus the latest Brexit vote, on the agenda.
The discount website will report its half-year results on Tuesday. MySale is expecting to post a loss of A$5m (£2.72m) for the six months to the end of 2018 due to a combination of a changes to goods and services tax in its domestic Australian market and “product mix and inventory issues”.
It reported in a pre-close update that its sales had slumped 17% but insisted its full-year results would be “in line with market expectations” despite the turbulent first half.
The mens formal wear business will post its full-year results on Tuesday. Moss Bros, where Joules chief executive Colin Porter has recently been appointed chair, said after Christmas that its performance had improved after a challenging first half.
It added that bricks-and-mortar stores in “high-profile retail locations” had underperformed as a result of reduced footfall. It expects to report a full-year adjusted loss of £600,000, in line with market consensus.
The Government is set to hold a third meaningful vote on Theresa May’s Brexit deal mid-week, after MPs demanded more clarity on the next steps after the extension of the UK’s EU departure date to May 22 (if May can get the withdrawal deal through Parliament). If she cannot, the UK has until April 12 to propose a new way forward to EU leaders.
Retail Week Live
Retail Week Live takes place on Wednesday and Thursday at the Intercontinental Hotel at the O2. Keynote speakers include Dixons Carphone’s Alex Baldock, Asos’ Nick Beighton, Walmart International boss Judith McKenna and Shop Direct’s Henry Birch. To check out the packed programme, click here.