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Next week on the stock market

What to expect from a selection of the UK and international 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.

July is traditionally the time for a well-earned break. However, the stock market is anything but idle. In the latest round of results, we’re expecting to hear from well-known retailers through to some big tech names.

Whatever the weather, there’ll be something for everyone next week.

Among those reporting:

  • Burberry will want to show the early signs of a return to revenue growth.
  • As competition heats up, Netflix will aim to prove its subscriber growth can keep up.
  • Sports Direct need to show the core business is still in order, with a difficult last quarter fresh in investors’ minds.

FTSE 350 and selected other stocks reporting next week

15-Jul
Rio Tinto Q2 Operating Review
16-Jul
BHP Group Q4 Operational Review
Burberry* Q1 Trading Statement
Experian* Q1 Trading Statement
Hays Q4 Trading Statement
17-Jul
Euromoney Institutional Investor Q3 Trading Statement
Galliford Try Q4 Trading Statement
GVC* Post-Close Trading Update
Hochschild Mining Q2 Production Report
Netflix* Half Year Results
Microsoft* Q4 Trading Statement
Premier Oil Trading Statement
Severn Trent* Q1 Trading Statement
TalkTalk Q1 Trading Statement
18-Jul
Anglo American Q2 Production Report
Centamin Half Year Results
easyJet* Q3 Trading Statement
Hilton Food Group Trading Update
Moneysupermarket.com Half Year Results
Royal Mail* Trading Update
Sports Direct* Full Year Results
SSE* Q1 Trading Statement
Thomas Cook Q3 Trading Statement
19-Jul
Close Brothers Pre-Close Trading Update
SSP Group Q3 Trading Statement

*Companies on which we will be writing research

Burberry

The last couple of years has seen Burberry rethink its image. Attention shifted to improving prices, capping costs and protecting the brand by trimming sales partnerships. That hurt revenue and limited operating profit.

After putting in the hard work, we’d hope Burberry’s reset could start to yield results this year, although performance will be weighted to the second half.

As such, we expect Q1 revenue might seem a bit peaky. But we’ll have our eye out for future guidance – we’d like to know when we can expect the first shoots of sales growth to come through. We think the group’s momentum in the Far East will be particularly important.

See the Burberry share price, charts and our latest view

Register for updates on Burberry

Netflix

As the streaming giant approaches the half-year mark, we can (almost) be certain of one thing. Netflix will be able to boast over 150m subscribers from across the globe, having come within a whisker of the milestone in April.

But the rate of that subscriber growth is infamously hard to predict. Investors will want to see Netflix hit its target of 5m net additions in the second quarter. The arrival of the likes of Disney, Amazon and Apple - each intent on building rival streaming services - means the pressure’s on to keep subscriptions growing.

Not only that, a growing member base is a key component of plans to improve cash flows in 2020 and beyond. The current cash deficit comes from borrowing used to fund the billions of dollars being pumped into content to keep new users hooked. That spending does make sense, but Netflix can’t endure outflows forever. With that in mind we’ll be checking cash flow guidance remains unchanged.

See the Netflix share price, charts and our latest view

Register for updates on Netflix

Sports Direct

After upping its stake in GAME Digital to 38.5% last month, triggering a mandatory £52m takeover offer, Sports Direct is set to take the helm of yet another high street brand.

An interesting diversion, yes, but not enough to distract from the work needed on the core business. As the financial year wraps up, analysts have warned of a double digit percentage drop in operating profit.

A challenging trading environment on the high street is no secret, but Sports Direct needs to show it’s doing more than cutting prices to offset footfall problems. Plans to uplift existing stores aren’t coming cheap, and we’d like some evidence this investment is starting to pay its dues.

See the Sports Direct share price, charts and our latest view

Register for updates on Sports Direct

George Salmon owns shares in Burberry Group plc.

Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Thomson Reuters. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. 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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