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 What happens to your body when you give up sugar?
- 2 Have sex with your iPad thanks to the new sex toy no-one asked for
- 3 The 'sex selfie stick' lets you FaceTime the inside of a vagina
- 4 Why you're almost certainly more like your father than your mother
- 5 Westboro Baptist Church couldn't picket Leonard Nimoy's funeral because they didn't know where it was
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...