Tuesday is a day for retail sector investors, though the global headlines are likely to centre around US inflation, while national ones will be on a jobs market update from the Office for National Statistics.
Among London’s retail cohort, there are updates expected from Ocado Retail and Superdry.
Ocado Retail, which is the UK online grocery joint venture between Ocado Group PLC (LSE:OCDO) and Marks and Spencer Group PLC (LSE:MKS), has warned on profits at least three times so far this year, so investors won’t entirely rule out another.
The last update, in September, revealed that sales were expected to decline for the year amid a customer trend to trade down and put fewer items in their baskets, though for the fourth quarter growth is predicted to be in mid-single-digit percentages (as per the full preview).
Staying in the sector, first-half results are expected for Superdry PLC (LSE:SDRY) on Tuesday, according to some, which will have investors keeping an eye out for the outlook.
Analysts at Liberum recently labelled the fashion brand a “top pick for 2023”, saying the 60% plunge of the shares this year was “anomalous” when set against the circa £35mln profit swing the group just announced for the past year and the “tangible turnaround progress” since the return of founder Julian Dunkerton as boss three years ago.
Elsewhere, there's also defence sector name Chemring Group (LSE:CHG), where shares dropped off after the huge initial spike following Russia's invasion of Ukraine.
But Peel Hunt's analysts were among those still bullish ahead of the results.
Significant announcements
Trading updates: Ocado Group PLC (LSE:OCDO)
Interims: Sosandar (AIM:SOS) PLC, Superdry PLC (LSE:SDRY)
Finals: Chemring Group (LSE:CHG) PLC, Hyve Group PLC (LSE:HYVE)
Economic announcements: Claimant Count Rate (UK), Unemployment Rate (UK), CPI (US)
AGMs: Amedeo Air Four Plus Ltd (LSE:AA4), Avation PLC (LSE:AVAP), Blancco Technology Group (AIM:BLTG) PLC, Egdon Resources PLC (AIM:EDR), Macau Property Opportunities Fund, Softcat (LSE:SCT) PLC, Spectris PLC (LSE:SXS)