Monday 25 March
- Full-year results from Central Asia Metals and Henry Boot
- US new homes sales
- In the Asia, quarterly results from Petrochina
- Kingfisher full-year results
DIY giant Kingfisher will report their full-year results on Monday. The firm owns UK brands B&Q and Screwfix, alongside Castorama in France.
Kingfisher’s share price has fallen over a third since hitting a recent high in the summer of 2021.
AJ Bell investment director Russ Mould , head of financial analysis Danni Hewson, and AJ Bell investment analyst Dan Coatsworth said the fall reflects “soggy” consumer confidence, higher interest rates and the cooling of the Covid lockdown boom in DIY.
“A pair of profit warnings, in September and then November, have hardly helped either,” they said. “In the space of three months, chief executive Thierry Garnier cut the firm’s adjusted pre-tax profit guidance for the year to January 2024 to £560m from the initial steer at this time last year of £630m, to represent the second consecutive year of falling profits.
“Analysts have pencilled in £557m and after the well-trailered disappointments of fiscal 2024 any guidance from Thierry Garnier for the year to January 2025 may be of more importance than the historic figures. The current consensus is for a flat outcome and adjusted pre-tax earnings of £560m.”
Tuesday 26 March
- Full-year results from John Wood, 888, Mobico, Forterra, Michelmersh Brick and Petershill Partners
- First-half results from Smiths Group, Bellway and YouGov
- Trading statement from Ocado
- Japanese core inflation
- US durable goods orders
- US Case-Shiller house price index
- US Conference Board consumer confidence index
- In Asia, quarterly results from BYD and China Telecom
- In the US, quarterly results from McCormick and GameStop
Wednesday 27 March
- Full-year results from Vanquis Banking, S4 Capital, Playtech and Strix
- First-half results from James Halstead
- US oil inventories
- In the US, quarterly results from Cintas and Carnival
Thursday 28 March
- Full-year results from Secure Trust Bank, Shanta Gold and EnQuest
- Nationwide UK house price index
- US weekly unemployment claims
- Japanese unemployment
- In Asia, quarterly results from Air China
- In Europe, quarterly results from H & M and Jungheinrich
- In the US, quarterly results from Walgreen Boots Alliance
- JD Sports full-year trading statement
JD Sports will unveil its full-year results on Thursday, following the announcement of a profit warning back in January.
Over the period, the sportswear firm’s share price has dropped by a third, leaving them at roughly the same level as April 2019.
AJ Bell’s Mould, Hewson and Coatsworth said: “A profit warning in January, which cited unhelpful weather for sales of fleeces, pushback on high prices in the UK and margin pressure in the USA has hardly helped sentiment toward the stock during a time when the murky economic outlook and cost-of-living crisis remain a concern, at least in the UK.
“Lingering doubts over new boss Régis Schultz’s aggressive, and costly, store roll-out plan are weighing on the stock, while a Christmas profit warning from major brand partner Nike serves to support the argument that the share price fortunes of both firms are inextricably linked.”
The trio added: “Supporters will then be hoping that JD Sports sticks to the downgraded profit forecast that it offered in January, when Mr Schultz cut expectations for the year’s adjusted pre-tax profit figure to between £915m and £935m from the initial steer of £1.04bn.
“Analysts currently expect a modest 6% advance in 2025 to £979m, with a broadly flat operating margin of 9.2%, thanks to new store investment, spend on IT and also the integration of acquisitions, such as Courir and IRSG.”
Friday 29 March
- Japanese industrial production
- US Personal Consumption Expenditure (PCE) index
- In Asia, quarterly results from ICBC and China Vanke
