The Week Ahead: Sainsbury’s to unveils half-year results
TalkTalk is expected to reveal the extent of the damage from the hack that exposed the details of thousands of its customer
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Your support makes all the difference.Sainsbury’s is expected to show its supermarket rivals how to deal with a downturn on Wednesday when it unveils its half-year results.
The grocer stunned investors at the end of September when it upgraded its annual profit guidance after a strong second-quarter performance, shrugging off the issues suffered by the likes of Tesco and Morrisons at the hands of the discounters, Aldi and Lidl.
Sainsbury’s was the only major supermarket chain to see sales rise in the 12 weeks to 11 October, increasing its market share by 1.1 per cent to 16.1 per cent, according to Kantar’s quarterly data.
Analysts at Jefferies think the strong second-quarter sales have set the scene for “a more resilient” first half than feared. They are forecasting a 1.6 per cent fall in like-for-like sales, with pre-tax profits of £293m – a big slump from £375m last year – due to lower margins.
Elsewhere, TalkTalk is expected to reveal the extent of the damage from the hack that exposed the details of thousands of its customers on Wednesday, the date of its first-half results. They will show whether customers abandoned the phone and broadband group in the wake of the attack, which caused its share price to slump.
Tomorrow half-year results are due from mobile giant Vodafone, National Grid, embattled tool hire firm Speedy Hire and credit-checker Experian.
There are also annual results from Imperial Tobacco, a first-quarter statement from plumbing supplies group Wolseley, and a third-quarter update from broadcaster ITV.
On Wednesday, utilities firm SSE is due to release half-year results, along with online security firm Sophos, which floated on the stock market in June.
Burberry is likely to steal the headlines on Thursday with its half-year results as China’s slowdown takes its toll on the luxury fashion group. Half-year results from bus-to-trains operator FirstGroup and bike-to-car parts retailer Halfords are also out on Thursday, along with a third-quarter trading statement from under pressure aircraft engine maker Rolls-Royce.
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