Black Friday heralds the start of the period of peak trading that in many cases defines the FY outcome. John Stevenson & Jonathan Pritchard think the early signs are promising.
Footfall was up 5% YoY, especially strong in retail parks and shopping centres. Some unquoted stores have suggested positive full-price sales.
Their view is that this will be a solid Christmas for the sector. As always, stock selection is key, but in some cases valuations may mean that “solid” is a signal for “jolly good share price performance”.
John & Jonathan discuss sector themes in the video. They visited a new Dunelm store, and have had ‘deep and meaningfuls’ with AO World and ASOS. In terms of incoming calls, they have been talking most about B&M European Value Retail. There is still a long way to go ‘til peak is through, but they see Santa’s stocking as half-full.
