Wednesday preview: Next releases first quarter results

UK retailer Next is set to reveal its first quarter results Wednesday - a month after posting annual profit growth.

A slump in homewear sales is expected to drag on the company's performance, according to analysts at Credit Suisse on April 5th.

The broker said although Next has started to prioritise its home division in advertising, the market requires a boost to housing transactions and secured credit before realising any material improvement in the category.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

"While leading indicators are still positive there hasn't yet been sufficient signs of a pick up in housing activity in the spring for this to be the driver we originally expected this year," the analyst said.

Last month the company reported a 9.0% jump in pre-tax profits to £621.6m for the year to January 2013 boosted by growth in online sales and business expansion.

Credit Suisse noted a fall in brand sales in the results and said the past two months would "clearly have been slow".

"It is therefore very hard to see how Next's first quarter IMS [...] is likely to give too much reason for cheer, despite the soft comps," it said.

Other FTSE 100 releasing results Wednesday include Weir Group and Meggitt.

Wednesday May 1st

INTERIMS

Avon Rubber

INTERIM DIVIDEND PAYMENT DATE

ISG, NWF Group, Smith (DS), Wolseley

INTERIM EX-DIVIDEND DATE

Lok'n Store Group, Next Fifteen Communications, Swallowfield, Utilitywise, Wetherspoon (J.D.)

QUARTERLY PAYMENT DATE

Mercantile Investment Trust (The), Torchmark Corp., Verizon Communications

QUARTERLY EX-DIVIDEND DATE

City of London Inv Trust, JPMorgan Claverhouse Inv Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (15:00)

Construction Spending (US) (15:00)

ISM Manufacturing (US) (15:00)

ISM Prices Paid (US) (15:00)

Q3

Kofax

FINALS

Development Securities, Home Retail Group

IMSS

Meggitt, Next, Weir Group

SPECIAL EX-DIVIDEND PAYMENT DATE

Admiral Group, ITV

AGMS

Aga Rangemaster Group, Alkane Energy, Core VCT, DP Poland, European Real Estate Inv Trust Ltd. Part Pref, GlaxoSmithKline, JPMorgan American Inv Trust, Kerry Group 'A' Shares, Ladbrokes, Lancashire Holdings, Meggitt, Novae Group, Rapid Realisations Fund Ltd., Spirent Communications, Stanley Gibbons Group, Weir Group

UK ECONOMIC ANNOUNCEMENTS

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

Aberdeen UK Tracker Trust, Foreign and Colonial Inv Trust, Jardine Lloyd Thompson Group

FINAL EX-DIVIDEND DATE

Admiral Group, Advanced Medical Solutions Group, African Barrick Gold , APR Energy, British Smaller Companies VCT 2, Cobham, Croda International, Dunedin Enterprise Investment Trust, Dunedin Income Growth Inv Trust, Elementis, F&C Private Equity Trust, Ferrexpo, Goals Soccer Centres, Henry Boot, Highcroft Investment, Highland Gold Mining Ltd., Holders Technology, Hydrogen Group, ITV, Maven Income and Growth VCT 5, Morgan Sindall Group, Neptune-Calculus Income & Growth VCT, Ocean Wilsons Holdings Ltd., Porvair, Powerflute Oyj (DI), Reed Elsevier, Regus, Senior, SIG, SThree, Total Produce, Travis Perkins, Weir Group

RD