Week Ahead: Kingfisher, Next, Retail Sales

11th Sep 2009 11:52

In a week when UK retail sales figures for August are due to be published it is appropriate that the major company results announcements are from two retailers.DIY retailer Kingfisher issues interim results on Thursday that are likely to see a recovery in profitability, albeit with some help from favourable currency movements.Owing to accidental distribution of in-house figures to some City analysts Kingfisher had to rush out a profit statement on 8 September, so we already know that adjusted pre-tax profit for the six months to 1 August will be between £285m and £290m, much better than expected.The B&Q owner said retail profit, which excludes central costs and exceptional items, will be in the range of £345m-£350m, broadly made up of £148m in the UK and Ireland, £146m for France and £53m in other international markets.Total sales are expected to improve to around £5.5bn from £5.13bn in the first half of 2008/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 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.UK Retail Sales for August are expected to show a monthly increase of 0.3%, slightly lower than July's 0.4% increase. The annual rise in retail sales is expected to slow to 2.8% from 3.3%.Monday September 14INTERIMSAsia Digital Holdings, Kentz Corporation, Plant Health CareINTERIM DIVIDEND PAYMENT DATEAstraZenecaINTERNATIONAL ECONOMIC ANNOUNCEMENTSBeige Book Fed Survey (US)Consumer Price Index (GER)Crude Oil Inventories (US) Leading Indicator Index (JPN)FINALSCity of London Investment Group, International Ferro Metals, International Ferro MetalsEGMSFinders ResourcesAGMSPetroNeft ResourcesFINAL DIVIDEND PAYMENT DATEGreene KingTuesday September 15INTERIMSCello Group, Fairpoint Group, Hallin Marine Subsea International, NetDimensions, Vindon Healthcare, WinINTERIM DIVIDEND PAYMENT DATE4imprint Group, MondiQUARTERLY PAYMENT DATECryptologic Ld, Thomson ReutersFINALSAsian Citrus, Hargreaves ServicesEGMSColefax Group, Czech & Slovak Inv. TstAGMSAmur Minerals, Colefax Group, Mwana Africa, Oxford Instruments, Playwize, Southern BearFINAL DIVIDEND PAYMENT DATEDS Smith, SpiceQUARTERLY RESULTSQueen's Walk Investment Ltd.Wednesday September 16INTERIMSCape, 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 & WightThursday September 17INTERIMSFrench Connection, KingfisherINTERIM DIVIDEND PAYMENT DATEDialight, Spirent CommunicationsFINALSCentaur Media, Kier Group, NXT, Ultimate Finance Group, Wilmington GroupAGMSAccident Exchange Group, ACP Capital, ACP Mezzanine Ltd., Artemis Alpha Trust, Best of the Best, Encore Oil, Games Workshop Group, Infoserve Group, Nufcor Uranium Ltd.UK ECONOMIC ANNOUNCEMENTSInternet Retail Sales (09:30)Retail Sales (09:30)FINAL DIVIDEND PAYMENT DATENew Century AIM VCT, Robert WisemanFriday September 18INTERIM DIVIDEND PAYMENT DATEChina Medical System Holdings, Fresnillo, London Capital Group, Morgan Sindall, Pearson, PsionQUARTERLY PAYMENT DATEM&G Equity Inv Trust Income SharesFINALSBlueBay Asset Management, ShieldtechAGMSFiltronic, Tiger Resource Finance, Warner Estate HoldingsUK ECONOMIC ANNOUNCEMENTSPublic Sector Finances (09:30)FINAL DIVIDEND PAYMENT DATECyril Sweett, JPMorgan Elect Managed Growth Shares, Latchways, Matrix Income & Growth 2 VCT 'C' Shares, PHSC