Retail Week looks ahead to the next seven days, which include updates from Topps Tiles, Shoe Zone, Greggs, Morrisons and Card Factory.
Tuesday
Morrisons posts a Christmas trading update on Tuesday. The grocer’s total sales edged up 0.4% to £8.83bn during the six months to August 4; however, like-for-like sales fell 1.9% – the first drop since 2016.
Jefferies analyst James Grzinic suggests the supermarket chain will post subdued results following heavy promotional activity and ongoing political uncertainty during the period.
Wednesday
Greggs, Shoe Zone and Sainsbury’s all update the market on Wednesday.
Greggs upgraded its profit-before-tax expectations in November as shop like for likes increased 8.4% during the six weeks to November 9.
Shoe Zone posts its full-year results. The shoe retailer issued a profit warning in August and said full-year profits will be below expectations due to “tough high street trading”. Chief executive Nick Davis stepped down from his role and was succeeded by executive chair Anthony Smith.
Sainsbury’s post its third-quarter results. The supermarket chain recorded a dive in half-year statutory pre-tax profits for the 28 weeks to September 21, which it attributed to £229m of one-off costs relating to a review of its store estate.
Thursday
Several retailers update the market on Thursday including Naked Wines, Marks & Spencer and John Lewis.
Dunelm expects its full-year results to be “higher than expected” and will post a Christmas trading update.
Topps Tiles will release its first-quarter results. It posted falling full-year statutory pre-tax profits to £12.5m, down 1.6% for the 12 months to September 28, blaming the general election for weakened consumer demand.
Tesco posts its third-quarter results. Following its interim results in October, chief executive Dave Lewis revealed he would be stepping down in summer 2020. The grocer registered a 6.7% uplift in pre-tax profit to £494m during the period and group sales were flat at £28.3bn.
Friday
Retailers updating the market on Friday include Moss Bros, B&M and Mothercare.
Card Factory posts its Christmas update. During the nine months to October 31, the card specialist posted a 0.9% uptick in like-for-like sales but was down 0.4% in the third quarter as declining footfall took a toll.
Quiz updates the market. The struggling fashion retailer swung to a loss before tax during the six months to September 30. The fast-fashion brand posted a loss of £6.8m down from a profit of £3.8m for the same period the previous year.
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