Mixed results in the high street as ASOS takes checkout crown

Marks and Spencer's results expected to fall, while HMV's are buoyant thanks to others' misfortunes

The extent of the recovery in Britain's retail arena is likely to become apparent this week when a raft of high street names including Marks & Spencer, HMV, Game Group and CarpetRight, as well as the online retailer Asos deliver numbers to the market.

Marks & Spencer's embattled executive chairman, Sir Stuart Rose, is expected to unveil disappointing first quarter sales figures ahead of next week's crucial annual meeting.

Corporate governance advisory firms Pirc and RiskMetrics and the UK's biggest FTSE 100 shareholder, Legal & General, have re-iterated their wish for Sir Stuart to relinquish his dual role at Marks & Spencer as soon as possible. The Local Authority Pension Fund Forum has tabled a resolution calling for him to split the top jobs at the firm.

In a busy week for retailers, the music-to-DVDs chain HMV is expected to deliver robust full-year earnings, buoyed by the collapse of its rivals, Woolworths and Zavvi, earlier in the year. HMV has bought 23 Zavvi stores left empty by the collapse of the Virgin-backed group.

Profits at the Simon Fox-led group are expected to arrive in-line with expectations. However, concerns remain about the long-term performance of the firm's Waterstones' book subsidiary. HMV said in April that sales at Waterstones had slumped by 4.5 per cent in the 16 weeks to the end of the month, compared to the same period last year. HMV is expected to maintain its dividend payout.

Computer and console games firm Game Group is expected to deliver an upbeat assessment of trading this week. But in contrast, CarpetRight is expected to reveal a large drop in full-year profits. The flooring group said earlier in the year that like-for-like sales had slumped by 15 per cent between February and April.

Allied Carpets, another flooring firm, said just last week that it was considering a company voluntary arrangement to secure its future.

This week's most spectacular figures are likely to come when Asos, the online retailer that sells catwalk copy clothes, reveals its profits jumped by as much as 70 per cent over last year. The firm is expected to overcome the wider problems in the retail sector, with profits coming in at around £14m for the year to the end of March. Sales are expected to hit the £163m figure for the year.

The Nick Robertson-led firm recently said that its sales had grown by 80 per cent this spring as young fashion-hungry shoppers lapped up its offerings. Asos's share price has increased by 30p to 380p over the past 12 months, in marked contrast to the rest of the struggling retail arena.

Mr Robertson, whose great grandfather founded the Austin Reed menswear chain, retains a stake of nearly 13 per cent in the company.

PROMOTED VIDEO
Arts and Entertainment
Stik on the crane as he completed the mural
art
News
Happy in his hat: Pharrell Williams
people
News
i100(More than you think)
News
Phyllis Dorothy James on stage during a reading of her book 'Death Comes to Pemberley' last year
peopleJohn Walsh pays tribute to PD James, who died today
News
peopleExclusive: Maryum and Hana Ali share their stories of the family man behind the boxing gloves
Arts and Entertainment
John Hurt will voice Prince Bolkonsky in Radio 4's War and Peace
radioRadio 4 to broadcast 10-hour adaptation of War and Peace on first day of 2015
News
ebooksNow available in paperback
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Argyll Scott International: Service Desk Analyst

£20000 - £22000 per annum: Argyll Scott International: Service Desk Analyst Re...

Argyll Scott International: 2x Service Desk Analyst

£20000 - £22000 per annum: Argyll Scott International: Service Desk Analyst Re...

Recruitment Genius: Senior Execution Trader

£30000 - £250000 per annum: Recruitment Genius: A global Rolling Spot FX, Comm...

Citifocus Ltd: ACA - Financial Reporting

£Attractive Package: Citifocus Ltd: Chartered accountant (ACA or CPA), must be...

Day In a Page

Cameron, Miliband and Clegg join forces for Homeless Veterans campaign

Cameron, Miliband and Clegg join forces for Homeless Veterans campaign

It's in all our interests to look after servicemen and women who fall on hard times, say party leaders
Millionaire Sol Campbell wades into wealthy backlash against Labour's mansion tax

Sol Campbell cries foul at Labour's mansion tax

The former England defender joins Myleene Klass, Griff Rhys Jones and Melvyn Bragg in criticising proposals
Nicolas Sarkozy returns: The ex-President is preparing to fight for the leadership of France's main opposition party – but will he win big enough?

Sarkozy returns

The ex-President is preparing to fight for the leadership of France's main opposition party – but will he win big enough?
Is the criticism of Ed Miliband a coded form of anti-Semitism?

Is the criticism of Miliband anti-Semitic?

Attacks on the Labour leader have coalesced around a sense that he is different, weird, a man apart. But is the criticism more sinister?
Ouija boards are the must-have gift this Christmas, fuelled by a schlock horror film

Ouija boards are the must-have festive gift

Simon Usborne explores the appeal - and mysteries - of a century-old parlour game
There's a Good Girl exhibition: How female creatives are changing the way women are portrayed in advertising

In pictures: There's a Good Girl exhibition

The new exhibition reveals how female creatives are changing the way women are portrayed in advertising
UK firm Biscuiteers is giving cookies a makeover - from advent calendars to doll's houses

UK firm Biscuiteers is giving cookies a makeover

It worked with cupcakes, doughnuts and macarons so no wonder someone decided to revamp the humble biscuit
Can SkySaga capture the Minecraft magic?

Can SkySaga capture the Minecraft magic?

It's no surprise that the building game born in Sweden in 2009 and now played by millions, has imitators keen to construct their own mega money-spinner
The King's School is way ahead of the pack when it comes to using the latest classroom technology

Staying connected: The King's School

The school in Cambridgeshire is ahead of the pack when it comes to using the latest classroom technology. Richard Garner discovers how teachers and pupils stay connected
Christmas 2014: 23 best women's perfumes

Festively fragrant: the best women's perfumes

Give a loved one a luxe fragrance this year or treat yourself to a sensual pick-me-up
Arsenal vs Borussia Dortmund: Alex Oxlade-Chamberlain celebrates century with trademark display of speed and intuition

Arsenal vs Borussia Dortmund

The Ox celebrates century with trademark display of speed and intuition
Billy Joe Saunders vs Chris Eubank Jnr: When two worlds collide

When two worlds collide

Traveller Billy Joe Saunders did not have a pampered public-school upbringing - unlike Saturday’s opponent Chris Eubank Jnr
Homeless Veterans Christmas Appeal: Drifting and forgotten - turning lives around for ex-soldiers

Homeless Veterans Christmas Appeal: Turning lives around for ex-soldiers

Our partner charities help veterans on the brink – and get them back on their feet
Putin’s far-right ambition: Think-tank reveals how Russian President is wooing – and funding – populist parties across Europe to gain influence in the EU

Putin’s far-right ambition

Think-tank reveals how Russian President is wooing – and funding – populist parties across Europe to gain influence in the EU
Tove Jansson's Moominland: What was the inspiration for Finland's most famous family?

Escape to Moominland

What was the inspiration for Finland's most famous family?