Wednesday preview: Next, UK unemployment

14th Sep 2010 17:44

Fashion retailer Next brings out interim figures on Wednesday, barely a month after it issued a pre-closing trading update in which it said it had noticed a "cooling" in consumer demand in recent months.Sales rose by 3.1% in the half year to end July, with catalogue and online sales strong and a decline on the high street.Retail rose by 1.3% as online business growth offset a like-for-like fall of 1.5% from store sales. Directory sales jumped 7.8%.Broker Charles Stanley, which is predicting profit before tax of £215m (up from £186m) on sales of £1,559m (up from £1,512m), thinks comments from chief executive Lord Wolfson will be closely analysed, given the previous comments about cooling demand."Sales comparisons will also become much tougher as the group comes up against last winter's strong performance. Input cost inflation is expected to become an issue in 2011, as a result of higher cotton prices, tighter capacity in Asian sourcing markets and unfavourable currency. The combination of higher cost prices and the proposed increase into VAT to 20% in January 2011, means it is anticipated that selling prices will have to be increased by between 5% and 8% for spring summer ranges," the broker said.Following on from Tuesday's inflation figures, Wednesday sees UK unemployment data released and as was the case with inflation, a small decline is expected. Economists were wrong, however, with their predictions on inflation, which stubbornly remained at 3.1% using the Consumer Prices Index measurement, and there is not much margin for error on unemployment either, with the claimant count tipped to dip by just 5,000 in August. On that basis, the claimant count unemployment rate would remain unchanged from July at 4.5%.Using the International Labour Organisation (ILO) measure, unemployment is forecast to have fallen by 35,000 in the three months to July to 2.44m. That would put the ILO unemployment rate at 7.8%, unchanged from the month before.Average weekly earnings including bonuses for July are tipped to have risen 1.6% in the three months to July, while excluding bonuses the growth rate is tipped to be a tad lower at 1.5%.INTERIMS21st Century Technology, Amiad Filtration Systems, Fairpoint Group, Ideal Shopping Direct, InterQuest, Kiotech International, Next, STM Group, Toumaz Limited, YCO GroupINTERIM DIVIDEND PAYMENT DATE4imprint Group, Baronsmead VCT 3, Baronsmead VCT 4, St James's PlaceINTERIM EX-DIVIDEND DATEAntofagasta, Cape, Charlemagne Capital, Clarkson, Communisis, Computacenter, CPP Group, Davis Service Group, Elderstreet VCT, Fyffes, GlobeOp Financial Services, Globus Maritime, H & T Group, Hellenic Carriers, Lincat Group, Logica, Maintel Holdings, Molins, Parkwood Holdings, Pennant International, Rathbone Brothers, Restaurant Group, Temple Bar Inv Trust, Tex Holdings, Tikit, UTV Media, Xstrata, ZotefoamsQUARTERLY PAYMENT DATECanadian General Investments, UnileverQUARTERLY EX-DIVIDEND DATEAlpha Pyrenees Trust Ltd., M WinkworthINTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Price Index(EU) (10:00)Harmonised Index of Consumer Prices (EU) (10:00)Unemployment (EU) (10:00)MBA Mortgage Applications (US) (12:00)Empire State Manufacturing Survey (US) (13:30)Import and Export Price Indices (US) (13:30)Capacity Utilisation (US) (14:15)Industrial Production (US) (14:15)Crude Oil Inventories (US) (15:30)GMSPantheon LeisureFINALSBrooks Macdonald, Galliford Try, Indus Gas, Regenersis, Unitech Corporate ParksSPECIAL EX-DIVIDEND PAYMENT DATECharlemagne Capital, H & T Group, Ryanair HoldingsEGMSLondon & Stamford Property, Puma VCT I, Puma VCT II, Queen's Walk Investment Ltd.AGMSConsort Medical, Energy Technique, ITM Power, Maghreb Minerals, Photo-Me International, Stagecoach Theatre Arts, Syndicate Asset ManagementUK ECONOMIC ANNOUNCEMENTSClaimant Count Rate (09:30)Unemployment Rate (09:30)Average Weekly Earnings (09:30)FINAL DIVIDEND PAYMENT DATEImmunodiagnostic SystemsFINAL EX-DIVIDEND DATEAnite Group, Best of the Best, Colefax Group, Electric & General Inv Trust, Falkland Islands Holdings, Goodwin Plc, Harmony Gold Mining Company, Hartest Holdings, Henderson Smaller Companies Inv Trust, Jacques Vert, Kesa Electricals, Phoenix IT Group, Prosperity Minerals Holdings, Renishaw, Standard Life UK Smaller Companies Trust