Retailer figures to show depth of high-street recovery
Sunday 01 November 2009
The depth of the recovery on the high street will be revealed this week when Marks & Spencer, Next and Primark all deliver numbers to the City.
Analysts will look to M&S's chief executive, Sir Stuart Rose, to reinvigorate the stock after its shares tumbled last month following a poorly received investor presentation in the City.
Earlier this month, a market researcher TNS FashionTrak said M&S had lost ground to rivals including Asda's George and Primark, which now have larger pieces of the fashion pie. But James Monroe of S&P Equity Research, said: "I think there might be a few reasons to be pleased with M&S on Wednesday."
M&S is expected to say profits fell by around 4 per cent in the first half of the year, coming in at £285m.
Kate Colvert, a retail analyst at Shore Capital said: "M&S has introduced 600 branded lines [non-M&S] in stores in the North-east. But they have been quiet on a national roll-out. Had the project been successful, they would have been more forward." Shares closed up 0.65 per cent on Friday at 342.5p.
Meanwhile, Next chief Simon Wolfson is likely to say the chain's underlying sales fell in the third quarter by up to 4 per cent, while budget retailer Primark is set to display recession resilience in Tuesday's full-year numbers.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...