Coming up today
Next, says Hargreaves Lansdown’s Emilie Stevens, “remains defiant in the face of the high street storm”. The company recently bucked the sector trend by upgrading its forecasts after rising sales. The retailer – like many of its rivals – is trying to move more of its sales on to online channels to offset a decline in the fortunes of its bricks-and-mortar stores, so the ratio between the two business sections will be closely watched.
Reporting preliminary results for the full year will be Kier Group, the debt-addled outsourcer that has been at the centre of short-sellers’ crosshairs since the collapse of sector giant Carillion. Jefferies analysts say the group’s operating profit will likely be materially down, but that its outlook “is the focus”.
“We believe more evidence of net debt reduction is needed and until asset sales are agreed scope for a re-rating may be limited,” they wrote.
Interim results: Lamprell, Next, Saga
Preliminary results: Kier Group
Revenue update: IG Group
Economics: Retail sales, BoE bank rate (UK), current account balance, jobless claims and home sales (US)