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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 week of 27th May 2024.
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Among those currently scheduled to release results this week:


No FTSE 350 Reporters


Intermediate Capital Group

Full Year Results


Q2 Trading Statement


Pershing Square Holdings

Q1 Results

Pets at Home*

Full Year Results


Q1 Results


Auto Trader

Full Year Results


AGM Trading Statement

Dr Martens

Full Year Results

HarbourVest Global Private Equity

Full Year Results


No FTSE 350 Reporters

*Events on which we will be updating investors.

Can Dr. Martens fix its US footprint?

Dr. Martens’ shareholders are nursing heavy losses, and weakness in the US, its biggest market, continues to be a concern. The recent trading update suggests that we shouldn’t see too much divergence from consensus forecasts which expect revenue to fall by 11% to under £0.9bn. That’s largely driven by expected weakness in the wholesale division. Analysts are looking for operating profit of £125mn, which would mark a fall of 34%.

The iconic bootmaker has outlined several challenges for this year. It’s anticipating another double digit decline in US wholesale revenue. The decision to hold back on price increases means the company will be unable to offset inflation. Dr. Martens sees a potential two-thirds fall in pre-tax profits as the worst-case scenario, but has not ruled out the possibility of an improvement. We’ll be watching out for further guidance.

Prices delayed by at least 15 minutes

Pets at Home results expected to be in line with previously downgraded guidance

Pets at Home has shown that even it isn’t immune to a challenging consumer environment. Downgraded profit guidance following a weak third quarter didn’t come as much of a surprise to investors, as inflationary pressures caused consumers to rein in their spending on more lucrative pet accessories.

Having largely shaken off the disappointment of slowing retail growth, investors will be hoping to be rewarded for their patience. In addition to looking for underlying profit before tax (PBT) of £132mn, markets will be eagerly awaiting forward-looking guidance. Utilising customer data insights and growing its online presence offer significant opportunities for growth, but these efforts don’t come cheap. We are mindful that the group’s costs are growing and will be paying close attention to how investments will be sustainably funded.

Prices delayed by at least 15 minutes

Can Salesforce reaccelerate top-line growth over the coming year?

After a year of getting fit, Salesforce is a leaner beast ahead of first-quarter earnings margin progression last year was impressive, and guidance points to further improvements over the coming year. But without as many cost-cutting levers to pull, margin growth will need to come organically.

The macro-environment looks to have stabilised, and investors will now be looking for signs that subscription revenue growth can reaccelerate from the current c.10% guidance. AI will play a major part in that, and Salesforce is well-positioned to benefit given the amount of time customers spend on Slack or its various other cloud products. But with its Copilot tool still in beta mode and no benefit built into guidance for the coming year, it may take some time for AI to meaningfully drive top-line growth.

Prices delayed by at least 15 minutes
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Written by
Guy Lawson-Johns
Equity Analyst

Guy works as an Equity Analyst within the share research team, delivering current research and analysis on individual companies as well as broader sectors.

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Article history
Published: 24th May 2024