What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:
- Can Boohoo return to growth?
- Greggs has set itself a high bar of late – can it deliver?
- Will the glass remain half full for J D Wetherspoon?
Among those currently scheduled to release results next week:
| 02-Oct | |
|---|---|
| No FTSE 350 Reporters | |
| 03-Oct | |
|---|---|
| Boohoo Group* | Half Year Results |
| Greggs* | Q3 Trading Statement |
| 04-Oct | |
|---|---|
| Tesco* | Half Year Results |
| 05-Oct | |
|---|---|
| Ferrexpo | Q3 Production Report |
| Imperial Brands* | Trading Statement |
| Pennon* | Trading Statement |
| Volution Group | Full Year Results |
| 06-Oct | |
|---|---|
| J D Wetherspoon* | Full Year Results |
*Events on which we will be updating investors
Boohoo – Aarin Chiekrie, Equity Analyst
Boohoo was having a tough time last we heard, with full-year revenue down 13% to £1.8bn ignoring exchange rates. Sales declined across all regions, most notably falling at double-digit rates in the USA, which is seen as the group’s route to major growth. We’re looking forward to hearing whether Boohoo’s managed to stem the bleeding in next week’s half-year results, as well as how and when the group plans to return to growth.
With revenue expected to decline between 10-15% in the first half, Boohoo’s going to have to streamline its operations if it wants to keep full-year profit targets on track. Falling goods cost inflation and much lower shipping costs should provide a slight tailwind too, easing some of the pressure on margins. A small net cash position at the last count means there’s no immediate cash crunch and gives some wiggle room to turn things around. But if active customer numbers continue falling, it’ll be very hard to drive profits in the right direction again.
See the Boohoo share price, charts and our latest view
Greggs – Matt Britzman, Equity Analyst
Greggs has earnt a reputation for delivering strong results of late, so we’re expecting next week’s third-quarter trading update to follow that trend. An update on costs would be welcome, given last we heard things were improving with 7% like-for-like growth expected over the second half compared to 11% in the first. If that trend remains, there could be some leeway for Greggs to ease its own price hikes and keep the offerings in that sweet value spot.
The direction of travel looks promising with several growth levers; including bolstering delivery services (it currently has a partnership with Just Eat), click and collect, and opening later to attract more evening customers. But a high bar’s been set, so investors will be looking for positive progress reports across the range of growth initiatives.
See the Greggs share price, charts and our latest view
J D Wetherspoon – Derren Nathan, Head of Equity Research
Last we heard, J D Wetherspoon finished its financial year with a flourish, and next week’s full-year results should see like-for-like sales growth around 12.9%. We’ve also heard that net debt has shrunk by some £200m to under £700m. We’ll be keen to hear if the Board can now see a path to bringing back the dividend. Key to this in our opinion is the outlook for this year and beyond, so we’ll be looking out for a steer on current trading and whether the strong UK consumer confidence data seen this month is being reflected in food and drink sales at pubs. The Group’s also seen signs of moderating inflation, and investors will no doubt be looking for more detail around the direction of travel for the cost base.
See the J D Wetherspoon share price, charts and our latest view
Sign up for J D Wetherspoon research
Unless otherwise stated estimates are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.
Share Insight: our weekly email
Sign up to receive weekly shares content from HL.
Please correct the following errors before you continue:
Hargreaves Lansdown PLC group companies will usually send you further information by post and/or email about our products and services. If you would prefer not to receive this, please do let us know. We will not sell or trade your personal data.