Agenda: Primark, Boohoo and Carpetright update the market

Primark

Primark posts its interim results on Wednesday.

The clothing retailer reported a 4% rise in sales year on year in the 24 weeks to March 2, although like for likes declined 2%.

UK sales rose 2% overall while like for likes were flat, as November’s low footfall was offset by strong trading during the rest of the period.

Primark’s selling space has increased by 300,000 sq ft since the last financial year ended, and the retailer expects to open a further 900,000 sq ft of new selling space in its current financial year including its recently opened Birmingham store – which has the Guinness World Record for the world’s largest fashion retail store.

Full-year operating profit is expected to be in line with expectations.

Boohoo

Boohoo post its full-year results on Wednesday.

The online fashion retailer raised its full-year profit guidance at the beginning of the year after a strong Christmas period.

Group revenue growth for the full year is expected to be 43%-45%, ahead of previous expectations of 38%-43%. Adjusted EBITDA margins are anticipated to be between 9.25% and 9.75%, a narrowing of the previous range of 9%-10%.

Westfield

Shopping centre operator Unibail-Rodamco-Westfield will posts it first quarter results on Wednesday.

The group, which owns nearly 100 shopping centres around the globe, including the Westfield depratments stores in London, posted a 4% net rental income growth on a like-for-like basis to €2.161bn in 2018.

Carpetright

Carpetright will post its pre-close trading update on Thursday.

The specialist retailer recorded an underlying pre-tax loss of £12.4m in the 26 weeks to October 27, 2018, from a profit of £1.2m during the same period the previous year.

After launching a CVA during the period and shutting 65 stores, the carpet retailer is on track to deliver £19m in annualised cost savings during the year.