This week will bring a myriad of corporate releases, being the financial results of British retailer Next and athletic apparel giant Nike the ones arising the largest deal of anticipation. Likewise, Sainsbury’s is expected to report the fifth consecutive quarter of shrinking sales.
In London, supermarket operator Sainsbury's is expected to reveal a fifth successive quarter of falling sales when it publishes a trading update on Tuesday, fuelling fears that its prospects have been dented by a resurgent Tesco, advanced the ‘Scotland Herald’.
It is worth to remember that like-for-like sales were 1.7 percent down over the third quarter covering the key Christmas period. The figure was weal but not as bad as previously anticipated.
On the upside, Nike and Next. Both apparel groups have arisen a good level of anticipation
On Thursday, the world’s largest footwear retailer is expected to report third-quarter profit and revenue above analysts’ estimates, according to Thomson Reuters StarMine.
As highlighted by ‘Fortune’ magazine, Nike’s performance is expected to be driven by strong sales of its running and basketball shoes, particularly the Flyknit and Jordan series, as well as continued demand for athletic apparel.
Nevertheless, analysts are alert as potential slowdown in future orders in Western Europe and emerging markets may be exacerbated by the strong dollar.
Also on Thursday, yet in London, Next plc is set to announce its biggest ever profit when it unveils its annual results, publishes ‘This is Money’. The London paper reports that Next’s Chief executive Lord Wolfson is expected to confirm forecasts that profit rose 12 percent to 775 million pounds in the year to January 31, 2015.
Finally, the world’s largest apparel group, Spanish Inditex – parent group to Zara -, will unveil its yearly results on Wednesday. Analysts are predicting humbler growth than in previous fiscal years.