B&Q owner Kingfisher reports on Tuesday and investors will be keen to see how its ‘One Kingfisher’ strategy is progressing.
The retailer’s July second quarter update saw it reporting some early success, with the pilot of its unified IT system commencing on time in Ireland.
In March, the company announced it was to take the axe to its B&Q DIY chain, with 60 shops to close, and Keith Bowman at Hargreaves Lansdown said: “News regarding store closures and supply chain efficiencies could be forthcoming.”
The interim results are expected to show adjusted pre-tax profit increased by around 4% to £380mln, following a strong second quarter.
On the data front CPI inflation for the month of August makes it to the top of the release pile
Investec said: “We are pencilling in a dip in inflation back to zero, from 0.1% year on year in July, but we note that the balance of risks points to there being a decent chance of a negative reading.”
The broker noted that producer input price numbers are also likely to show a hefty monthly and annual drop in input price inflation, following sharp falls in oil, metal and soft commodity prices
Significant announcements expected:
Finals: Wilmington Group (LON:WIL).
Interims: Kingfisher (LON:KGF), NetPlay TV (LON:NPT), TLA Worldwide (LON:TLA), Manx Telecom (LON:MANX), Hydrogen Group (LON:HYDG), Centralnic Group (LON:CNIC), Accesso Technology group (LON:ACSO), Bango (LON:BGO), HaloSource (LON:HAL).
Trading statement: Ocado Group (LON:OCDO).
Economic: UK – RPI, PPI, CPI, EU – ZEW survey, Balance of Trade, New car registrations, US – Retail sales, Industrial production.