Retail Week looks ahead to the next seven days, with Asda’s latest quarterly update and half year results from Hotel Chocolat both on the agenda.
Asda
The Walmart-owned supermarket chain publishes its fourth-quarter results on Tuesday.
Asda has fallen behind its big four rivals over the past two years, but its US paymasters are investing heavily in a bid to transform its fortunes.
The grocer has reshaped its senior leadership team, headed up by new chief executive Sean Clarke, and ploughed cash into lowering prices ahead of the crucial Christmas trading period.
Clarke and his team will be hoping the investment made a positive impact on its ailing sales line during the quarter.
Asda’s like-for-like performance hit a new low during its second quarter, nosediving 7.5%, while a 5.8% slump during the following trading period marked its ninth consecutive quarter of falling sales.
Hotel Chocolat
The chocolatier unveils its interim results on Wednesday, seeking to build momentum off the back of surging sales and profits in its first year as a public company.
Hotel Chocolat’s pre-tax profit almost trebled to £8.2m in the year to June 26, 2016, despite incurring £2.6m in exceptional charges relating to its listing on AIM and the acquisition of Hotel Chocolat Estates Limited, in Saint Lucia.
The business hit the sweet spot over Christmas, with sales spiking 16.2% in the 13 weeks to December 25 off the back of a jump in customer numbers.
The eyes of the City will be fixed on Hotel Chocolat in the hope it has replicated such success over the wider half-year period.
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