Primark owner, Inditex and John Lewis to update this week as retailers warn on spending

Major retailers including Primark's owner Associated British Foods and Zara parent Inditex will issue trading updates this week that investors and the High Street are watching for clearer signs of a consumer slowdown, market sources said.

Primark owner Associated British Foods and Inditex are due to update on Wednesday, while the John Lewis Partnership will report on Thursday. The briefings come after recent profit warnings from Greggs and JD Sports that cited pressure on household budgets and a squeeze in discretionary spending.

Retail groups and analysts say the upcoming updates will be among the first major trading reads on how shoppers are behaving after a sustained period of high inflation, constrained wage growth and rising household costs. John Lewis executives last week said their customers were "probably more optimistic than they have been for a very long time," but cautioned that outlooks can vary widely across categories.

City investors have already priced in some of the weakness, with shares in a number of retail names volatile following warnings from food-on-the-go chain Greggs and sportswear retailer JD Sports. Those companies told markets this summer and early autumn that selling conditions had softened, prompting downgrades to profit forecasts and tighter guidance for the remainder of the year.

The sector has also lobbied the government over business rates and other cost pressures. Retailers said measures announced in last year’s fiscal package increased operating costs for the sector by roughly £7 billion, a point that has resurfaced in the industry’s calls for reform ahead of the autumn Budget. Chancellor Rachel Reeves is scheduled to deliver a Budget on Nov. 26, which business groups say will be a key moment for any relief measures.

Market participants said the updates will be parsed not only for current sales trends but for guidance on margins, inventory levels and discounting strategies heading into the critical autumn and holiday trading period. Company statements could also influence retail sector stocks and the decisions of individual investors who use popular online platforms to trade shares, as the market seeks signals about the durability of consumer demand.

Analysts and trade bodies have pointed to a mixed picture across the High Street. While some retailers report stabilising footfall and signs that discretionary spend is recovering in categories such as homewares, others say shoppers are prioritising essentials and cutting back on fashion and leisure purchases. That divergence is expected to show up in the corporate updates scheduled this week.

Investors will also be watching commentary on cost management, supply-chain conditions and plans for promotions or price changes as companies navigate the run-up to the peak trading season. Any shift in guidance could affect market expectations for sector earnings and shape conversations about policy intervention on business rates and other retail-specific costs.

The coming days will provide fresh, near-term evidence of how resilient consumer spending is amid persistent economic headwinds and ahead of the Chancellor's Budget in late November. Retailers' statements this week are likely to be treated as an early test of whether the High Street can sustain sales momentum into the key holiday months.