Week ahead: Kingfisher and Pets at Home results due; US PCE eyed

22nd May 2026 14:33

(Sharecast News) - The UK corporate calendar will be a lot quieter next week when traders return to their desks after the Bank Holiday weekend.

Tuesday will see the release of a first-quarter trading update from B&Q and Castorama owner Kingfisher and Q1 results from Atalaya Mining. In the US, third-quarter earnings from Zscaler are due.

On Wednesday, Greencore and Hollywood Bowl will publish interim results, while Pets at Home and HICL Infrastructure will release full-year results.

As far as Pets at Home is concerned, AJ Bell analysts Russ Mould and Danni Hewson said the company "could badly do with some renewed pep".

"The retail side of the business has been really struggling and that has acted as a catalyst for a change at the top, as Waitrose alumni James Bailey comes in as CEO following the departure last year of Lyssa McGowan after little more than three years," they said. "Shareholders will be hungry for details on how Bailey plans to get Pets at Home's coat looking glossy and tail wagging again as it deals with continued pressures on consumer spending and on the company's cost base."

In the US, quarterly results are due from Marvell Technology and HP.

On Thursday, full-year results from Johnson Matthey and SSE will be in focus, along with a trading update from molten metal flow engineer Vesuvius.

Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said SSE heads into next week's full-year results with investment across the business ramping up as expected, driven by a 60% rise across its Networks division as it builds out its infrastructure to cope with rising demand.

"Alongside higher allowed revenues from the regulator, the group's earnings per share outlook was raised to between 147-152p," he said. "Looking ahead, the infrastructure build-out is set to continue, with £33bn of investment planned over the five years to 2030.

"With the group's revenues linked to the value of its asset base, markets are expecting revenues to grow by around 10% next year to £11.4bn. SSE looks relatively immune to the effects of the Middle East conflict, with a good portion of its revenues positively linked to inflation, providing a natural hedge. Alongside tight cost controls, earnings per share look set to grow at a faster pace of nearly 24% to 184p next year."

Across the pond, investors will turn their attention to quarterly results from Autodesk, Dollar Tree, Costco and Best Buy.

There are no FTSE 350 corporate releases due on Friday.

On the macro front, US inflation data for April on Thursday will be among the highlights, in particular the core PCE price index.

Patrick Munnelly at Tickmill Group said: "The PCE inflation report is crucial, especially after recent hawkish shifts from the Fed. A strong PCE reading could reinforce expectations for a prolonged Fed pause, while a weak result may challenge recent hawkish sentiments."