What's in store today...

Chris Thomas
23.07.09 00:01

Having already beaten expectations once this financial year, hopes are high in the City that retail group Kingfisher (KGF) will continue its strong performance.

With the (reasonably) good weather continuing from the end of the first quarter, analysts are forecasting around a 2% drop year-on-year in sales- and given the continued curb on consumer spending, this would be seen as a decent performance. Its global operations in China and Poland have also been pinpointed by analysts as areas of potential growth.

On the economic front, retail sales are forecast to have picked up in June, after experiencing a poor May, with the hot weather expected to boost demand for summer clothes, footwear, outdoor leisure goods and food.

In addition, says Howard Archer of forecasting group IHS Global Insight, figures from the British Retail Consortium suggest that a number of shops engaged in earlier and deeper summer discounting to try to lift sales.

"On the positive side, sharply reduced mortgage payments and moderating inflation is boosting many people's purchasing power," he says.

"However, consumers remain under serious pressure from sharply higher and rising unemployment, markedly reduced earnings growth and heightened debt levels."

Archer expects to see a 0.5% month-on-month increase for retail sales, with the annual comparative leaping by 2.4%.

Trading updates

Compass, Kingfisher

Dividend payment date

(Final) Aurora Inv Trust, DCC, Hamworthy, Matrix Income & Growth 2 VCT 'C' Shares, Printing.com

(Interim) Edinburgh Worldwide Inv Trust

AGMS

AEA Technology, Alterian, Anglo Asian Mining, Ascent Resources, Biotech Growth Trust, Blavod Extreme Spirits, Caledonia Investments, Carphone Warehouse Group, Chamberlin and Hill, De La Rue, Dee Valley Group, Emerging Metals Limited, Eurasia Mining, Hyder Consulting, Mckay Secs., Melorio, Midas Capital, MobilityOne, Prospect Epicure J-REIT Value Fund, Proton Power Systems, RAB Special Situations Company Ltd., Scottish & Southern Energy, SSL International, Sunkar Resources, Tate & Lyle, TP70 2008 (I) VCT, TP70 2008 (II) VCT, TP70 VCT, Twenty, Vertu Motors

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Retail sales (June)

What's in store today...

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