It’s going to be a busy week with trading updates from five retailers including M&S, Card Factory and Moss Bros in the next five days.
Steve Rowe officially took the helm at one of the UK’s best known retailers at the weekend, and one of his first assignments will be to unveil Marks & Spencer’s fourth quarter trading figures on Thursday.
It’s not an enviable task in your first week on the job. No doubt most attention will be paid to the under pressure retailer’s flagging fashion business and it is likely that the pressures faced by other clothing retailers, highlighted by Next just over a week ago, will have been felt at M&S too.
It’s too early for Rowe to unveil signs of any strategy change but observers will be keeping a close eye on what the new boss has to say on fashion – the division he was leading as general merchandise boss before he was promoted to chief executive. At least the performance of food, the business Rowe led with great success for several years, should give the new boss something to cheer about on Thursday.
Card Factory preliminary results
On Tuesday Card Factory reveals preliminary results. Like M&S, the rapidly growing value card specialist is also in the midst of a leadership change. New chief executive Karen Hubbard, the former B&M chief operating officer who held senior positions in Asda before that, takes the helm in mid-April.
Hubbard inherits a well-run business which has seen terrific growth in recent years largely owing to its impressive vertically integrated business model.
Moss Bros full-year figures
There’s change at the top level for menswear retailer Moss Bros too, which is also reporting full-year figures on Tuesday. The retailer this year appointed former Charles Tyrwhitt finance director Tony Bennett and drafted in Paula Minowa as chief operating officer. They join a business in rude health; in its first half Moss Bros unveiled a like-for-like surge of 9.7%, while pre-tax profits jumped 44%.
Topps Tiles interim results
Meanwhile, DIY retailer Topps Tiles is to report on its interim results on Wednesday. The tiles specialist has been a robust performer despite the downturn thanks to a focus on product innovation and expert service. It will be looking to have built on its first quarter performance when like-for-likes increased 4.4%.
Dunelm third-quarter results
And to finish off a busy reporting week Dunelm reports on its third quarter. Another retailer with a new boss, former Dixons, Apple and Monsoon chief John Browett will be hoping to build on what has been a strong few years for the value homewares retailer.
The week that was
Last week wasn’t without its action either. To catch up with some of the biggest stories such as the introduction of the controversial living wage, Home Retail’s board giving the Sainsbury’s takeover a thumbs up or our own scoop about Tesco’s launch of a new mobile payment app to take on Apple Pay, see the articles listed below.