Thursday preview: Next benefits from festive shopping sales

Hot off the heels of festive trading Next is scheduled to report a strong fourth quarter performance.

Hot off the heels of festive trading Next is scheduled to report a strong fourth quarter performance.

The UK's second-biggest clothing retailer will Thursday unveil its sales results for the Christmas period.

The full year profit before tax estimate was put at £598m by Nomura Equity Research.

The broker predicted the company would deliver full year brand sales of up to 4%, based on data which showed clothing sales were up 6% in November.

Next's trading update follows reports of average trading across the wider retail sector in the run up to Christmas.

Results were boosted by Boxing Day sales as an estimated 10m UK consumers scrambled get their hands on good deals. Next stores opened doors as early as 06:00 on December 26th to deal with demand.

Online sales also soared to unprecedented levels this year with shoppers searching for bargains on retail websites.

"The Next 'formula' is likely to continue - modest space growth, supplemented by good online sales, margin management and share buy-backs imply double-digit total shareholder returns, in our opinion," Nomura said.

FINALS

Sinclair (William) Holdings

TRADING ANNOUNCEMENTS

Next

INTERIM DIVIDEND PAYMENT DATE

Hogg Robinson Group, Homeserve, Sepura, VP

QUARTERLY PAYMENT DATE

GlaxoSmithKline

UK ECONOMIC ANNOUNCEMENTS

Consumer Credit (09:30)

M4 Money Supply (09:30)

M4 Sterling Lending (09:30)

Mortgage Approvals (09:30)

PMI Construction (09:30)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Unemployment Rate (GER) (08:55)

M3 Money Supply (EU) (09:00)

MBA Mortgage Applications (US) (12:00)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

Auto Sales (US) (15:00)

FOMC Interest Rate Minutes (US) (19:00)

RD

Recommended

Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021

Most Popular

How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
The after effects of the gas-price shock
Economy

The after effects of the gas-price shock

In the wake of the recent spike in the natural gas price, we can expect slower growth, an industrial recession – and a newly assertive Russia, says Ma…
17 Oct 2021