What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:
- Greggs looks to cap off 2023 with a strong final quarter
- Tesco hopes to prove it’s putting up a fight against Aldi and Lidl
- Marks & Spencer looking to take market share
Among those currently scheduled to release results next week:
| 08-Jan | |
|---|---|
| Shell | Q4 Production Statement |
| 09-Jan | |
|---|---|
| B&M European Value Retail | Q3 Trading Statement |
| 10-Jan | |
|---|---|
| J Sainsbury* | Q3 Trading Statement |
| Greggs* | Q4 Trading Statement |
| Hunting | Q4 Trading Statement |
| Persimmon* | Q4 Trading Statement |
| 11-Jan | |
|---|---|
| Ferrexpo | Q4 Production Statement |
| Hilton Food | Full Year Trading Statement |
| Marks & Spencer* | Christmas Trading Statement |
| Taylor Wimpey* | Trading Statement |
| Tesco* | Q3 Trading Statement |
| Whitbread* | Q3 Trading Statement |
| 12-Dec | |
|---|---|
| Vistry* | Q4 Trading Statement |
*Events on which we will be updating investors.
Greggs – Matt Britzman, Equity Analyst
2023 was a good year for Greggs by most measures, and next week’s trading update will shed light on how trading fared over the final quarter. As seen in the third quarter, expect to see like-for-like sales growth to slow from earlier in the year, given there won't be as much of a tailwind from price hikes. But it's a win in the long run as less pressure on costs makes it easier to keep prices in check and retain that coveted value offering.
Looking forward, expansion’s set to continue with the number of stores set to rise to 3,000 over the next few years. There’s also a big opportunity to capture and retain demand with momentum across the loyalty programme and new delivery partnerships. All in, the direction looks promising, though there are no guarantees.
See the Greggs share price, charts and our latest view
Tesco – Sophie Lund-Yates, Lead Equity Analyst
Aldi and Lidl have had record Christmases. This suggests consumers are more willing to try a new grocer in a bid to save money amid the cost-of-living crisis. This could take an element of shine off Tesco’s trading statement next week – or at the very least prove customers are more focussed on value. But while we’re expecting the supermarket price bunfight to continue, we’re optimistic that Tesco’s had a merry Christmas.
The stiffer competition is worth noting, but the record numbers from the discounters also point to the fact consumers are willing to show up and spend if the proposition’s right. To that end, Tesco has a best-in-class offering, both when it comes to its value positioning thanks to things like Clubcard pricing, alongside its scale and product range. Last we heard from the group, trading was better than expected with retail like-for-like growth of 7.8%. That led to an uplift in full-year profit expectations, which we don’t think will be undone in next week’s statement.
The culture of treating ourselves at home bodes well for the sale of Tesco Finest products too, which have seen robust volume uplifts even before the festive season. As ever, remember no shareholder returns are guaranteed, all investments and any income they produce can go down in value as well as up.
See the Tesco share price, charts and our latest view
Marks & Spencer – Aarin Chiekrie, Equity Analyst
Marks & Spencer’s has had a solid year, outperforming the broader market significantly in 2023. Recent performance of the group’s UK Food division has really impressed us, with volume growth outpacing all other mainstream food retailers. In next week’s results, we’re keen to see if this trend has continued over the third quarter, which includes the important Christmas trading period. Signs that the group can continue to gobble up market share at a time when most consumers’ wallets are stretched would be very welcomed by markets.
Clothing’s another area to keep an eye on and is becoming an increasingly powerful string to the group’s bow. The ongoing pivot to new locations and refresh of older stores is another tailwind in our view, given that in-store sales account for the majority of clothing purchases. There’s not likely to be any updates on free cash flow and net debt levels, but both were moving in the right direction at the half-year mark.
See the Marks & Spencer share price, charts and our latest view
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