Retail Week looks to the next seven days with updates from Next, Pets at Home and Wickes owner Travis Perkins all on the agenda.
The owner of DIY chain Wickes unveils its interim results on Tuesday. Travis Perkins’ consumer arm, which also includes Toolstation and Tile Giant, posted a 7.3% increase in like-for-like sales during its first quarter, while total sales advanced 10.8%. The business lauded “positive momentum” within its three retail fascias during the 14 weeks ended April 2, and the City will be seeking signs that has been carried through to the wider half-year period.
The high street bellwether updates the market with its second-quarter trading on Wednesday. Back in May, Next lowered its full-year sales guidance after total sales inched down 0.2% during its first quarter and it warned of a possible “wider slowdown in consumer spending”. The retailer’s boss, Lord Wolfson, had warned earlier in the year that 2016 could be its toughest year since 2008. Its second-quarter figures will prove to be a barometer as to how tough the year is turning out to be.
Pets At Home
The retailer unveils its first-quarter update on Thursday, seeking to build momentum from the full-year results it posted in May. Pets at Home’s pre-tax profits jumped 3.7% to £92.1m in the 53 weeks to March 31, as like-for-like sales climbed 2.1%. Its growing services division drove the performance, as like-for-likes in its vets and grooming arm grew 10% across the year. Boss Ian Kellett claimed the performance showed the pet market was “more resilient than general retail” and will hope the business has backed up that claim at the start of its current financial year.