What's in store...
Rhian Nicholson
03.11.09
Moving from the banks to the retailers, Wednesday will see Marks & Spencer (MKS) and Next (NXT) come to the fore.
Despite being overtaken by George at Asda and Primark as the UK largest clothing retailers, M&S is still expected to post a slight increase in group revenues following an improved sales trend reported in September.
Analyst Sam Hart of Charles Stanley says: "Marks & Spencer's interim results are likely to be relatively uneventful, given their proximity to the recent Investor Day. Sales data for the period and full year guidance was provided with the Q2 trading update on 30 September, so the focus of attention will be on operating margins, outlook comments and the pension fund."
Retail rival Next is expected to report a drop of up to 4% in underlying sales for the third quarter to the end of October as recent warm weather offsets weak comparative figures.
Next has forecast like-for-like retail sales to fall between 3.5% and 6% in its second half although its Directory home shopping business is expected to be on better form, with expectations ranging from a small fall to a small rise.
Insurer Aviva (AV-) will also serve up its third quarter results. Britain's largest insurance provider is expected to follow rival insurer Prudential's (PRU) lead and post disappointing sales figures. However, news on the proposed merger of some of its operations and potential for cost savings will make it a more interesting read.
On the pub side of things, JD Wetherspoon (JDW) is due to issue a first-quarter update. Analysts at Panmure Gordon have pencilled in steady sales growth over the three month period following on from a 1.2% rise in like-for-like sales and a 5.8% jump in total sales during the first six weeks of the 2010 financial year.
Results
(Interims) Alterian, FirstGroup, Marks & Spencer Group
(Quarterly) Endeavour International Corp
Trading statement
Aviva, Next
AGMs
Bioenergy Africa, Green CO2, Indigo Vision, JD Wetherspoon, Redrow
EGMs
Bioenergy Africa
Dividend payment date
(Final) Pacific Horizon Inv Trust
(Interim) Cello Group, M.P. Evans Group, StatPro Group
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