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Next week on the stock market

We take a look at what to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Among the companies reporting next week:

  • JD Sports will tell us whether the last few months have changed guidance.
  • LVMH may offer a strategic game plan for its controversial Tiffany’s acquisition.
  • Tesco could shed some light on margin expectations.

FTSE 100, FTSE 250 and selected other stocks scheduled to report next week

No FTSE 350 Reporters
Electrocomponents Trading Statement
JD Sports Full Year Results
JTC Full Year Results
LVMH* First Quarter Trading Statement
Pagegroup First Quarter Trading Statement
Tesco* Full Year Results
Entain* Q1 Trading Statement
Hays Third Quarter Trading Statement
Oxford Biomedica Full Year Results
PureTech Full Year Results
Travis Perkins First Quarter Trading Statement
Kainos Full Year Trading Statement
Mediclinic International Full Year Trading Statement

*Companies on which we will be writing research.

JD Sports – Sophie Lund-Yates, Equity Analyst

In a January trading statement JD Sports said full year profit before tax would be at least £400m, “significantly ahead” of prevailing market expectations of £295m. The group said demand of the Christmas trading period was “robust” and like-for-like sales for the second half were up more than 5% as customers readily switched between digital and physical sales channels. This is undeniably a good performance, but next week’s results should give us greater colour and show exactly how this was achieved. The group certainly expects the momentum to continue though, and tentatively guided for 5-10% profit growth this year. We’ll be looking to see whether the events of the last few months, including new lockdown restrictions in Europe, have affected those targets.

Recently the group has raised additional funds by issuing new shares, and has announced a few acquisitions. DLTR is an American sports fashion brand and Marketing Investment Group is Polish. These will increase JD Sports’ overseas footprint, and we expect to hear more on this strategy in next week’s results.

See the JD Sports share price, charts and how to deal

LVMH – Sophie Lund-Yates, Equity Analyst

2020 was a trying year for LVMH. Store closures and travel restrictions dented revenue. At the peak of the crisis, organic revenue fell 38% in the second quarter. But a recovery in key markets, including the US and Asia, meant revenues were only down 3% by the final quarter.

Next week we’ll find out if this positive trend has continued. But keep in mind, renewed lockdowns in Europe, and continued reduction in international travel, (LVMH relies on airport and hotel spending), means revenues are unlikely to be seeing rocket-fuelled growth.

While vaccine roll outs rumble on, it’s important to look at the bigger, strategic picture for LVMH. We could hear about plans for the recently acquired Tiffany & Co. The pandemic wiped out 36% of the jewellery brand’s sales during the first six months of 2020, and LVMH tried to walk away from buying it. The balance sheet was stretched to bring the famous brand into the fold, so we’d like to understand more about how LVMH plans to polish Tiffany’s prospects.

See the LVMH share price, charts and how to deal

Sign up to receive LVMH research direct to your inbox

Tesco, Sophie Lund-Yates Equity Analyst

It’s been a pretty exceptional year for this supermarket giant. Navigating mammoth changes in demand patterns that come with a pandemic, hiring an army of new staff and going full throttle on online expansion, all mean profits aren’t going to be stellar for the full year. Analysts expect operating profit to fall around 37.5%. It’s important to focus on the longer-term picture.

We’d like to know what expectations are for margins. As the group continues to ramp up investment, we wonder what that means for the operating margins (currently around 4.2%) Tesco worked so hard to rebuild.

One of the biggest threats for all the grocers is enormous competition. That means we’ll be looking closely for any commentary on trading in the run up to Easter. Tesco put in a very strong performance over the Christmas period, and some analysts expected consumers to pull out all the stops for Easter this year. We wonder if Tesco was able to repeat that strength in the run up to the latest round of celebrations.

See the Tesco share price, charts and how to deal

HL’s non-executive Chair is also a non-executive Director of Tesco plc.

Unless otherwise stated estimates are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments and income they produce can rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.

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    Important notes

    This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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