Agenda: ScS, Greggs and Tesco update the market

ScS

ScS posts its preliminary results on Tuesday.

The furniture and flooring retailer expects its full-year results to be in line with expectations as like-for-like order intake growth has increased consecutively for two years.

ScS reported a 4.2% increase in like-for-like order intake for the 52 weeks to July 27 and two-year like-for-like order intake growth of 5.2%.

The specialist retailer posted a 2.9% increase in order intake for the 33 weeks to March 16 and said its full-year performance “reflects the strong growth achieved in the last 19 weeks”.

Greggs

Greggs also updates the market on Tuesday.

The food-to-go retailer recorded a jump in its interim profits as demand rose driven by the popularity of its new vegan sausage roll. Greggs recorded a 58% spike in underlying pre-tax profit to £40.6m in the six months to June 29.

Sales rose 14.7% to £546m year on year, bolstered by a 10.5% uplift in like-for-like sales from company-managed stores.

Tesco

Tesco posts its half-year results on Wednesday.

The grocer’s like for- ikes inched up in its first quarter as sales were boosted by its merger with Booker.

UK and Ireland sales rose 0.8% on a like-for-like basis and 1.3% on a total basis, reaching £11.16bn. UK total sales dipped 0.4%, though like for likes rose 0.4%.

Booker drove growth with like for likes up 3.1% and total sales up 12.4% to £1.51bn.

Tesco attributed the performance to investments in price, range and loyalty that it made as part of its ‘100 Years of Great Value’ campaign.

Topps Tiles

Topps Tiles posts its full-year results on Wednesday.

The tile specialist reported a rise in like-for-like sales in its third quarter and improved trading from the levels reported in the first half of the year.

Topps Tiles posted an increase of 3.8% in the 13-week period to June 29, 2019, with trading improving over the first half of the year as like for likes sales edged up 0.2%.

The retailer put this success down to its product range, the launch of customer feedback system ‘Tile Talk’ and the acquisition of commercial business Strata Tiles.

Tech. festival

Retail Week presents its annual Tech. festival over Wednesday and Thursday.

The two-day event at Printworks in London plays host to a jam-packed programme focusing on digital commerce and technology, crafted by industry experts.

Over 2,000 people are attending, with 500 companies, 180 speakers and 100 start-ups to learn from, connect with and be inspired by.

Find out more and book your place at tech-festival.com.

Ted Baker

Ted Baker posts its interim results on Thursday.

The fashion retailer warned in June that full-year profits will come in between £50m and £60m.

The retailer posted group sales up 3.8% – or 1.9% in constant currency – for the 19 weeks to June 8, 2019. Total retail sales including ecommerce slipped 0.3%, or 1.8% in constant currency, as tough conditions took a toll.

Ted Baker reported: “Ongoing consumer uncertainty in a number of key markets and elevated levels of promotional activity across our global markets have resulted in extremely difficult trading conditions during the financial year to date.

“The board anticipates some of these external factors will continue to impact trade for the group and its trading partners across the remainder of the financial year.”