John Lewis
March 6: John Lewis said it was starting to feel the effects of a downturn as it reported a 19.7 per cent rise in pre-tax profits and announced an increased staff bonus
UK retail results
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Follow results and trading statements from major UK retailers as they are reported on FT.com
A measure of high street health
Results and trading statements from UK retailers during March and early April will provide evidence about the state of high street spending amid concerns that the UK could be heading for recession.
February sales data from the British Retail Consortium refelcted slowing sales and low consumer confidence. While food sales remained strong, sales of clothing, footware and homewares were lower. Retailers have called on the central bank to cut interest rates, citing difficult trading conditions and many bemoan privately the dearth of happy shoppers.
Some stores have found the right formula for operating in a nervous economic environment and supermarkets, in particular, are expected to be among the most resilient businesses.
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Results diary
Sports Direct
March 13: Sports Direct International made a third-quarter gross profit of £142m and said it was ‘confident’ of meeting earnings expectations
Wm Morrison
March 13: Sir Ken appointed honorary president as supermarket group reports record profits and announces £1bn share buy-back
Kesa
March 19: Kesa Electricals forecast a period of ‘no growth’ as it reported flat full-year profits and said in recent weeks sales in the UK had turned negative
Sainsbury’s
March 26: Sainsbury’s announced a £1.2bn property joint venture with British Land as it reported better than expected fourth-quarter trading
Kingfisher
March 27: Kingfisher took a knife to its final dividend as pre-tax profits for the year ending February 2 fell 12 per cent to £395m
Next
March 19: Next met expectations, reporting a £20m rise in pre-tax profits to £498.1m. However, it warned of a drop in sales in the year ahead
Woolworths
April 2: Woolworths cut its dividend as it reported a fall in pre-tax profits and announced that it would put Somerfield concessions in its stores
Carphone Warehouse
April 15: Carphone Warehouse shares fell 8.6 per cent as it forecast full year pre-tax profits of £215m-£220m, before a write-off
WH Smith
April 17: WH Smith said it was confident about its prospects despite high street gloom as it reported interim pre-tax profits ahead of expectations
