Agenda: Sainsbury’s and The Hut Group update the market

The Works

The value retailer reports its preliminary results on Wednesday, July 3. The Works has cautioned full-year profits would come in at the lower end of expectations despite hailing a “successful year” of sales growth in which revenues grew at 13.2% year on year and like-for-like sales grew 3%.

Topps Tiles

The specialist will post its third-quarter figures on Wednesday. Topps Tiles reported a 19% fall in interim profits but said it has gained market share and has made an “encouraging start” to the second half of its financial year.

Sainsbury’s

The grocer will report its first-quarter results on Wednesday. Sainsbury’s pre-tax profits plummeted 42% due to costs associated with its failed merger with Asda, with like-for-likes dipping in its full-year results. Analysts expect another weak sales update given the pressures within the UK grocery market.

Sosandar

The fashion retailer will post its preliminary figures on Wednesday. Sosandar expects to report annual revenue growth of 228% to £4.44m as new customer numbers have risen around 131% to over 45,000.

The Hut Group

The group will report its full-year results on Wednesday. The Hut Group, which has been in acquisition mode lately, buying boutique hotel group Eclectic Hotels and snapping up bricks-and-mortar space in which to display its brands, reported stellar results last year with gross profit up 51%.