Retail Week looks ahead to the next seven days with updates from Debenhams and Travis Perkins on the agenda.
Travis Perkins
The DIY specialist will report its third quarter on Tuesday, October 23.
Travis Perkins launched a “significant cost reduction programme” at its half-years after recording a slump in profits. The Wickes owner recorded a 4.6% decline in adjusted pre-tax profits to £167m in the six months to June 30, despite revenue rising 4.4% to £3.4bn.
The firm attributed its fall in profitability to a “challenging UK DIY market negatively impacting sales and profitability in Wickes”.
Debenhams
The department store chain will post its final results on Thursday, October 25.
Debenhams has had a gruelling year, issuing three profit warnings since January. The under-pressure retailer expects full-year pre-tax profits to be in the region of £35m-£40m, down from the current consensus of £50.3m.
At its third quarter, it said “trading in May and early June has been below plan despite weak comparatives” and added that “increased competitor discounting and weakness in key markets” had negatively affected it.
However, it also opened its ‘store of the future’ last month in Watford, showcasing its thinking on how it intends to climb out of the mire.
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