Retailers – and Osborne - in the spotlight

Retailers take the spotlight this week, with annual meetings for Marks & Spencer and Sainsbury’s, as well as a trading update from online clothing store Asos and annual results from fashion chain SuperGroup. There’s also the small matter of Chancellor George Osborne’s “emergency” Budget on Wednesday, while Bank of England policymakers unveil their latest decision on borrowing costs the following day.

Marks and Spencer is reported to be about to unveil a fall in clothing sales, although its food offering has proved more successful



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• RM – Half–year results are due from the supplier of software to the UK education sector, which saw adjusted pre–tax profits rise 10 per cent to £18.1 million in the year to the end of November.


• Marks & Spencer – The high street bellwether holds its annual meeting and is expected to report a fall in clothing sales for the first quarter, although food takings are forecast to have outperformed the wider grocery market.

• Asos – Another strong quarter of trading is set to be unveiled by the online fashion firm as it upgrades its IT systems and adjusts prices across its overseas websites. The City expects a 21 per cent rise in retail sales.

• Omega Diagnostics – Full–year results are scheduled from the Alva–based maker of medical testing kits.


• Sainsbury’s – Investors will want to know when boss Mike Coupe’s plan to turn the supermarket around will take hold when they gather for its annual meeting. Last week industry data from Kantar Worldpanel showed sales at the grocer fell 1.3 per cent in the 12 weeks to 21 June.

• Budget – Chancellor George Osborne sets out his spending plans following the Conservative’s surprise general election victory in May.


• SuperGroup – The owner of the Superdry fashion brand reports annual results, which recently flagged a 12.5 per cent increase in full–year revenues to £484.7m.

• Bank of England – Members of the monetary policy committee are expected to keep interest rates on hold at 0.5 per cent.

• Scottish Real Ale Festival – Edinburgh’s Corn Exchange is the venue for a celebration of Scotland’s brewing industry, which will feature more than 150 real ales and runs until Sunday. The event’s main sponsor is the Isle of Skye Brewing Company.