The Week Ahead: Washout summer dampens Majestic

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Majestic Wine’s figures are likely to reflect the impact of the washout summer weather when it reports half-year results today.

The group is expected to have seen sales boosted around events such as the Queen’s Diamond Jubilee and Euro football championships, but analysts believe overall summer trade will have been hit by the record UK rainfall.

Wayne Brown, analyst at Canaccord Genuity, expects sales will be “at best” flat, adding that the summer months usually account for around 20 per cent of Majestic’s full-year profits.

However, he said there was hope for a turnaround by the full-year stage, with the all-important Christmas season still to come. Canaccord ­expects adjusted annual profits to rise 14.5 per cent to £23.2 million.

EasyJet is expected to reveal tomorrow that profits took off after a buoyant year was rounded off by a last-minute rush for holidays following the London Olympics.

The budget carrier upped its profit guidance last month as the Games proved to be far better than feared for the sector, with disruption at London airports kept to a minimum during the event. It told investors that profits for the year to 30 September are likely to come in at between £310m and £320m, up from £248m the previous year.

Halfords will insist on Wednesday that the so-called “Wiggins effect” is keeping the business on track, despite a likely slide in profits.

The retailer previously said it expects to post pre-tax profits of between £40m and £42m for the first half, down around 20 per cent on the same period last year, although sales returned to growth in the second quarter as cycling revenues surged following Bradley Wiggins’s success in the Tour de France and Olympics.