Week Ahead: Next, Kesa, Kingfisher

10th Sep 2010 12:13

Retailers are to the fore next week with Next, Kingfisher and Kesa Electricals all reporting.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.Kesa Electricals is best known in the UK as owner of the Comet electrical goods barns but it has been the group's French chain, Darty, that has been doing the heavy lifting of late. Chief executive Thierry Falque-Pierrotin said back in June that the current financial year had started in line with expectations, but that was at the time of the FIFA World Cup, which should have provided a boost to flat-screen television sales, if nothing else.Activist investor Knight Vinke is a fan of the shares, having increased its stake at the end of June to 3.05%. Kesa's directors have also been buying, but the company faces a tough environment, with Curry's engaged in a lavish store refurbishment programme and US operator Best Buy moving in on the consumer electricals territory.B&Q owner Kingfisher reported a small drop in like-for-like sales in the 10 weeks to 10 July, but said in late July that half year profits remain on track.Though interim sales are expected to ease a little from last year's level profits should show an improvement, helped by the company's self-help initiatives, such as sourcing a greater proportion of its stock directly from manufacturer and improving the product mix to feature higher margin own label products.Charles Stanley thinks earnings before interest, tax and amortisation will climb to £360m from £347m the year before while profit before tax could surge to around £350m, up from £288m.Monday September 13INTERIMSIndividual Restaurant Company, Kentz Corporation, NetDimensions, PowerFilm (Reg S), SpaceandPeopleINTERIM DIVIDEND PAYMENT DATELSL Property ServicesINTERIM EX-DIVIDEND DATESagicor Financial CorporationINTERNATIONAL ECONOMIC ANNOUNCEMENTSCurrent Account (FRA) (07:45)Industrial Production (EU) (10:00)Treasury Budget Statement (US) (19:00)FINALSCity of London Investment GroupEGMSClipper Windpower (Reg S)AGMSAberdeen Private Equity Fund Ld Sterling Part Shs, Aurum Mining, imJack, Medgenics, PZ CussonsTRADING ANNOUNCEMENTSAssociated British FoodsFINAL DIVIDEND PAYMENT DATEGreene KingTuesday September 14INTERIMSAsia Digital Holdings, CBG Group, Cello Group, GLOBO, Hightex, Hilton Food, KBC Advanced Technologies, M. P. Evans Group, Norman Broadbent , OJSC Cherkizovo GDR (Reg S), Shore Capital, Surgical InnovationsINTERIM DIVIDEND PAYMENT DATEFresnillo, Mondi, Randall & Quilter InvestmentINTERNATIONAL ECONOMIC ANNOUNCEMENTSIndustrial Production (JPN)Capacity Utilisation (JPN)Consumer Prices (FRA) (06:30)ZEW Survey (GER) (10:00)Labour Costs (EU) (10:00)Business Inventories (US) (13:30)Retail Sales (US) (13:30)Retail Sales Inventories (US) (15:15)ABC Consumer Confidence (US) (22:00)GMSColefax Group, Norman Broadbent FINALSAshmore Group, EMIS, Hargreaves Services, Town Centre SecuritiesIMSSSupergroupAGMSAfrican Consolidated Resources, China Growth Opportunities Ltd., Colefax Group, Foresight 3 VCT, Mwana Africa, Oxford Instruments, Rapid Realisations Fund Ltd.TRADING ANNOUNCEMENTSSupergroupUK ECONOMIC ANNOUNCEMENTSConsumer Price Index (09:30)Retail Price Index (09:30)RICS Housing Market Survey (09:30)CDLG House Prices (09:30)FINAL DIVIDEND PAYMENT DATEDS Smith, SpiceWednesday September 15INTERIMS21st 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 TrustThursday September 16INTERIMSElektron, Global Energy Development, Gulfsands Petroleum, Kingfisher, Work GroupINTERIM DIVIDEND PAYMENT DATEAnglo American, Dialight, Spirent CommunicationsINTERNATIONAL ECONOMIC ANNOUNCEMENTSRBA Bulletin (AUS) (00:00)Tertiary Industry Index (JPN)Wholesale Price Index (GER) (07:00)ZEW Survey (EU) (10:00)Balance of Trade (EU) (10:00)New Car Registrations (EU) (10:00)Producer Price Index(US) (13:30)Continuing Claims (US) (13:30)Current Account (US) (13:30)Initial Jobless Claims (US) (13:30)Philadelphia Fed Index (US) (15:00)Q2OJSC Magnitogorsk Iron & Steel GDR (Reg S)GMSCyan, India Star EnergyFINALSBlueBay Asset Management, Centaur Media, Dunelm Group, Kier Group, Quayle MunroIMSSChemring Group, Kesa ElectricalsAGMSAbsolute Return Trust GBP Shares, Airsprung Group, Anite Group, Best of the Best, Braveheart Investment Group, Circle Oil, Downing Distribution VCT 'D' Shares, Downing Distribution VCT 2 , Games Workshop Group, Kesa Electricals, Prosperity Voskhod Fund Ltd., Terra Catalyst Fund, The Capital Pub Company, Tricorn GroupTRADING ANNOUNCEMENTSBooker Group, Chemring GroupUK ECONOMIC ANNOUNCEMENTSInternet Retail Sales (09:30)Retail Sales (09:30)FINAL DIVIDEND PAYMENT DATECity of London PRFriday September 17INTERIMSActive Energy GroupINTERIM DIVIDEND PAYMENT DATEDelcam, Ferrexpo, Informa, Moneysupermarket.com, Morgan Sindall Group, Pearson, Psion, Puma VCT I, Puma VCT II, Puma VCT III, Puma VCT IV, Witan Inv TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSProducer Price Index (GER) (07:00)Current Account (EU) (09:00)Construction Output (EU) (10:00)Balance of Trade (EU) (10:00)Consumer Price Index (US) (13:30)U. of Michigan Confidence (US) (15:00)GMSRAM Investment GroupEGMSCatalyst Media Group, JSC Uralkali GDR (Reg S)AGMSAvarae Global Coins, Blinkx, Catalyst Media Group, Coms, Intelek, ShalkiyaZinc N.V GDR (Reg S), SnackTimeUK ECONOMIC ANNOUNCEMENTSNationwide Consumer Confidence (00:01)FINAL DIVIDEND PAYMENT DATECyril Sweett, LatchwaysQ1Queen's Walk Investment Ltd.