Wednesday preview: Next, UK unemployment

15th Sep 2009 17:46

Fashion retailer Next is tipped by broker Charles Stanley to announce pre-tax profit of £185m for the six months to 25 July 2009, up from £174m the year before. Earnings before interest and tax (EBIT) should edge higher to £200m from £198m, Charles Stanley predicts, on revenue of £1.52bn, up from £1.5bn.Operating profit at the bricks and mortar stores are expected to be flat with the Next Directory generating some operating profit growth, probably in the region of 1%.The company has indicated it is looking for 305,000 square feet of new retail space to be added this financial year and any change to this figure might provide a clue to which way management feels the economic wind is blowing. 'Current guidance for Next Retail like-for-like sales to be down by 3.5-6.5% in H2 seems too pessimistic, so we would not be surprised to see guidance raised,' Charles Stanley analyst Sam Hart said.Singer Capital Markets agrees. 'Based upon anecdotes and other industry data, we believe there is a possibility that the range could tighten ... This is despite what we believe to have been a quite difficult August trading period.'Singer Capital Markets is forecasting a 5% decline in like for like sales in the second half of the year. Unemployment, using the International Labour Organization (ILO) measure, is expected by economic forecasting group IHS Global Insight to have risen by more than 200,000 in the three months to July, after rising by 220,000 in the three months to June.INTERIMSCape, Climate Exchange, NextINTERIM DIVIDEND PAYMENT DATESt James's PlaceINTERIM EX-DIVIDEND DATEAntofagasta, Cadbury, Clarkson, Communisis, Davis Service Group, Delta, Devro, Drax Group, Elderstreet VCT, Fyffes, GlobeOp Financial Services, H & T Group, Healthcare Locums, Hikma Pharmaceuticals, Lincat Group, Logica, Maintel Holdings, Moneysupermarket.com, Premier Farnell, Rathbone Brothers, Restaurant Group, Stadium Group, Temple Bar Inv Trust, Tex Holdings, Tikit, ZotefoamsQUARTERLY EX-DIVIDEND DATEAlpha Pyrenees Trust Ltd., Panther Securities, Quorum Oil and Gas Technology Fund Ltd.FINALSNetcall, Regenersis, Tenon GroupEGMSZoo DigitalAGMSAortech International, Cambium Global Timberland Ltd., Cambium Global Timberland Ltd., Energy Technique, Intercede Group, Private Equity Investor, Sirius Exploration, Stewart & Wight, Synergy Healthcare, Zoo DigitalFINAL DIVIDEND PAYMENT DATEPuma VCT I, Puma VCT II, Puma VCT III, Puma VCT IVFINAL EX-DIVIDEND DATEAnite Group, Best of the Best, Black Arrow, Brambles Ld, Fiske, Galliford Try, Gartmore Growth Opportunity, Goodwin Plc, Harmony Gold Mining Company, Jupiter Primadona Growth Trust, Kesa Electricals, Ludgate Environmental Fund, Mattioli Woods, Moneysupermarket.com, Penna Consulting, Phoenix IT Group, Standard Life UK Smaller Companies Trust, Stewart & WightUK ECONOMIC ANNOUNCEMENTSClaimant Count Unemployment Rate (09:30)Jobless Claims Change (09:30)Average Earnings (09:30)ILO Unemployment Rate (09:30)Manufacturing Unit Wage Costs (09:30)INTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Prices Index (13:30)Current Account Balance (13:30)Industrial Production (14:15)Capacity Utilisation (14:15)Consumer Prices Index (10:00) (EC)Bank of Japan MPC Meeting (JPN)