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Next week on the stock market

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 those currently scheduled to release results next week:

  • Greggs will let us know how it’s faring on its ambitious plans
  • We’ll see if Next can keep sales growth strong in a tougher environment

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

03-Jan
No FTSE 350 Reporters
04-Jan
No FTSE 350 Reporters
05-Jan
No FTSE 350 Reporters
06-Jan
Next* Q4 Trading Statement
Greggs Q4 Trading Statement
07-Jan
No FTSE 350 Reporters

*Events on which we will be updating investors.

Greggs – Sophie Lund-Yates, Equity Analyst

A price to earnings ratio of 28.1 is usually reserved for the likes of consumer giants. But such is the market’s confidence in this bakery chain. However, that does increase the pressure on next week’s trading statement – disappointing news could result in a more severe market reaction.

First up we’ll be looking to see how it’s faring on its punchy target to double revenue from £1.2bn this year to £2.4bn by 2026. Pillars of this target include later opening hours at some sites, a net 150 new shops a year, as well as a burgeoning delivery proposition. All of these are ambitious plans, and we’d like to know that the strategy’s on track.

The final thing to look for is the outlook statement. Gregg’s been focusing on more resilient locations, like petrol forecourts, retail parks and supermarket concessions, which rely less on high street footfall. But new guidance to work from home, plus general Omicron fears could still dampen Greggs’ estimates for the coming months. While this is outside the group’s control, any worse-than-expected commentary is likely to evoke a strong reaction.

See the Greggs share price, charts and our latest view

Next – Laura Hoy, Equity Analyst

Supply chain issues will be the thing to watch when Next reports. Strong underlying demand has been enough to offset these headwinds so far. But the pent-up demand following lockdowns is starting to taper, making stock limitations a more visible problem. Inflation’s also likely to keep a lid on consumer spending, so full price sales growth is expected to slow to 10% compared to 2019. While that’s not bad going, the big question is whether Next can keep sales growth in the double-digits in the more challenging environment.

This will be a key part of the clothing retailer’s success in the year ahead, as the group intends to further increase investment in this side of the business next year. Online sales now make up a growing proportion of overall income and the group’s efforts to leverage its e-commerce know-how have been paying off, with several new partners expected to be fully up and running in the new year.

We’ll also have our eye on Next’s performance in the all-important festive shopping season, as it offers somewhat of a litmus test of consumer attitudes, as prices rise and renewed Covid fears loom. We’ve seen return rates at some competitors rise substantially and wonder if Next’s results will confirm whether this is an industry-wide trend.

See the Next share price, charts and our latest view

Sign up to Next research

Sophie Lund-Yates owns shares in Greggs 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 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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