Retail Week looks to next week with full-year results from SuperGroup, plus trading updates from Asos, Burberry, Halfords, Mothercare all on the agenda.
The fashion etailer updates the market with its third-quarter trading performance on Tuesday. Asos posted an 18% jump in pre-tax profit at the half-year stage as retail sales and mobile traffic soared. Its new chief executive Nick Beighton said after those results that he was unfazed by Amazon’s fashion plans, but the City will be keen to hear whether Brexit could have more of an impact on performance.
The confectionery specialist posts its first trading update as a public company on Tuesday. Hotel Chocolat listed on AIM in May, with its share price surging 28% from 148p to 190p on their first day of trading. Co-founder and boss Angus Thirlwell plans to use the cash injection to expand the retailer’s 81-store portfolio in the UK, improve its website to open up more international markets and increase efficiency within its supply chain and manufacturing.
The luxury fashion retailer will post its first-quarter trading update on Wednesday, two months after it revealed a drop in full-year profits. Burberry said it plans to make £100m of cost savings, including axing jobs, after pre-tax profits fell 8% to £421m. Last month it emerged that chief executive Christopher Bailey received a pay cut from £7.5m to £1.9m, while his chief operating officer John Smith revealed plans to quit the business after six years.
The cycling and motor parts specialist reports news of its first-quarter trading on Thursday. Halfords unveiled its full-year results last month, with pre-tax profits falling 1.2% to £79.8m. Motoring like-for-likes advanced 2.5% but same store cycling sales suffered a 0.9% dip. Despite that setback, boss Jill McDonald remained confident of long-term growth in the sector – and the City will be seeking signs of sales improvement.
The parent and young children business unveils its first-quarter results on Thursday, seeking to build further momentum as its turnaround continues. Mothercare enjoyed a 51% jump in pre-tax profits for the year ending March 26 and posted its first full-year statutory profit for five years. But its UK business reported underlying losses of £6.4m, despite a 3.6% uplift in like-for-like sales. Boss Mark Newton-Jones will be keen to demonstrate further sales progress as he bids to return the UK division to profitability.
As many a fashion retailer suffers from the unpredictable British climate, SuperGroup is expected to show that it has managed to dodge the doldrums when it unveils its full-year results on Thursday. At its end of year trading update in May, SuperGroup said underlying pre-tax profits would come in between £72.5m and £74m, after total sales surged by 21%. Like-for-likes also jumped 11.2% as the retailer outperformed its fashion rivals.