Marks & Spencer will be in the spotlight on Thursday morning as it unveils its fourth-quarter sales figures.
Analysts at Nomura warned that like-for-like (LFL) clothing sales could be down as much as 6.0% despite a 3.5% rise in LFL food sales.
Total LFL sales will drop 1.3%, the first decline since 2009 when sales fell by 5.9%.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Start your trial
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Clive Black, an analyst at Shore Capital, said the results are likely to reflect the impact of cold weather in the UK. He pointed out that the retailer has lost market share to rivals such as Primark (owned by Associated British Foods) in the past three months.
Latest Videos FromMoneyWeek
"M&S ladieswear has been haemorrhaging market share for some time now and the Q4 update could make for pretty challenging reading for investors."
Meanwhile, WH Smith will report a 6.0% increase in half-year pre-tax profit tomorrow, according to analysts at Deutsche Bank.
The broker said last week that it expects the books and stationary retailer to post a profit before tax of £70m and group sales of £644m for the six months to the end of February, driven by growth in the travel division.
The broker recommended a 'buy' rating and raised its target price to 800p.
"The company is likely to confirm its current cost savings targets and we hope for an update about the travel division's store opening pipeline," Deutsche Bank said.
"With much of the High Street's profits already banked in H1 we see limited downside risk to forecasts in the next six months."
Thursday April 11th
INTERIMS
Matchtech Group, WH Smith
INTERIM DIVIDEND PAYMENT DATE
Hargreaves Lansdown, Wilmington Group
QUARTERLY PAYMENT DATE
GlaxoSmithKline, Yamana Gold Inc.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (GER) (07:00)
ECB Report (EU) (09:00)
Import and Export Price Indexes (US) (13:30)
GMS
ISIS Property Trust Ltd.
FINALS
Elektron Technology, Northbridge Industrial Services, Reach4Entertainment Enterprises
IMSS
Hays
AGMS
BP, Murray International Trust, Smith & Nephew, Telekomunikacja Polska S.A GDR (Reg S)
TRADING ANNOUNCEMENTS
Marks & Spencer Group
FINAL DIVIDEND PAYMENT DATE
Rio Tinto
FINAL EX-DIVIDEND DATE
Sagicor Financial Corp.
