Agenda: Sainsbury's-Asda, McColl's and the Environmental Audit Committee

McColl’s 

The convenience specialist releases its preliminary results on Monday. 

The retailer posted flat total like-for-likes in the 13 weeks to November 25, with full-year like-for-likes down 1.4%.

Due to ”continued difficult trading conditions”, the retail group’s adjusted EBITDA for the full year is now expected to be around £35m.

Chief executive Jonathan Miller said: “2018 has been a very difficult year for the business, marked by unprecedented supply chain disruption and ongoing challenges. Looking ahead, we expect competition in the grocery retail sector to remain intense and we face into significant cost pressures.”

Environmental Audit Committee

The Environmental Audit Committee, led by Mary Creagh MP, will share its full report on Tuesday after writing to leading fashion chief executives to find out what steps they are taking to reduce the environmental footprint of the products they sell.

The findings have already shown that Amazon, Boohoo, Sports Direct, TK Maxx and Missguided were the least engaged.

Creagh said: “It’s shocking to see that a group of major retailers are failing to take action to promote environmental sustainability and protect their workers.

“By publishing this information, customers can choose whether they want to spend money with a company that is doing little to protect the environment or promote proper wages for garment workers.”

Asda

Asda will post its fourth-quarter results on Tuesday afternoon. 

The Walmart-owned supermarket chain posted its sixth consecutive quarter of growing like-for-like sales in November, with its own-label proposition driving the growth.

The grocer saw a 2% uplift in same-store sales, excluding fuel, and a 3.7% increase in net sales during the 13 weeks to October 26, but gross profit slipped again as Asda continued to plough investment into its turnaround plan. 

According to Kantar Worldpanel, Asda was the best performer of the big four with overall sales growth of 0.7% in the 12 weeks to December 30.

Intu

The shopping centre landlord will post its final results on Wednesday, with 2018 earnings expected to be broadly flat, although rental income like-for-likes are expected to grow.

Intu Watford was successfully extended last year on time and within the £180m budget. 

The shopping centre giants dealt with two failed acquisitions during 2018. In April, Hammerson pulled the plug on its £3.4bn bid to acquire the shopping centre group after uncertainty on French retailer Klepiere’s potential £5bn offer. 

Intu’s deputy chairman John Whittaker formed a consortium to rescue the group after its share price dropped 40% but quickly pulled the plug on its potential takeover blaming macroeconomic “uncertainty” and “potential near-term volatility” in financial markets.

Sainsbury’s-Asda

The provisional findings of the CMA’s phase two investigation into the Sainsbury’s-Asda merger are due before the end of February – and are expected to be unveiled this week.

The watchdog will then issue a call for feedback on its findings, before publishing its final verdict by April 30.