Retail Week looks ahead to the next seven days with Tesco, Asos, WHSmith and Dunelm update on the agenda
The BRC and KPMG will report on retail sales in March on Tuesday. Retail sales slipped in February as lingering Brexit uncertainty dented consumer spending. Like for likes across the sector dipped 0.1% compared with a 0.6% uplift during the same period a year ago.
The grocer will post its full-year figures on Wednesday. Tesco racked up its 12th consecutive quarter of growth over Christmas, claiming that it had “outperformed” the market during the crucial period. The supermarket giant said like for likes grew 2.2% in its core UK and Ireland business during the six weeks to January 5. However, Tesco launched a consultation with 9,000 workers in January in a bid to build a “simpler, more sustainable business”.
The fashion etailer will reports its interim results on Wednesday. Asos ended its winning streak at its full-year results just before Christmas when it warned on profits and reported that its sales growth had slowed to 14% in its first quarter after torrid November trading conditions. It cut full-year sales growth guidance from 20%-25% to 15%.
The homewares retailer will publish its third-quarter results on Wednesday. Dunelm posted an increase in first-half profits as the drive to simplify its business model bore fruit. The retailer registered a 24.3% jump in reported pre-tax profit to £70m during the 26 weeks to December 29, 2018. Total revenues climbed 1.2%, while like for likes advanced 6.9% to £506.7m. The retailer hailed the impact of focusing on the core Dunelm business and simplifying its operations.
The stationer will report its interim figures on Thursday. WHSmith recorded an increase in sales as a decline in its high street division was offset by a strong performance in its travel division. The books and stationery retailer posted a 6% uplift in total sales in the 20 weeks to January 19 and flat like for likes. It is on track to open 20 new stores in its travel arm in its current financial year, including its new Heathrow airport concept stores. It recently acquired US travel retailer InMotion.