CreditSuisseexpectstheresultstodemonstratetheongoingbenefitsofinternalself-helpmarketcodeforcostcuttingandmarketsharegains,despiteachallengingtradingenvironment。

AsCreditSuissenotes,Kingfisherhasalreadyreportedfourthquarterlike-for-like(LFL)salesgrowth(year-on-year,oryoy)of+4。

2%forFrance,-1。

9%forUKIreland,and+0。

1%forOtherInternational。

ForthefullyearweforecastFrenchEBIT[earningsbeforeinterestandtax]growthof22%to£425mwithEBITmarginsincreasingby120bp[1。

2percentagepoints]to9。

5%fortheyearunderpinnedbyastrongLFLperformance(+3。

8%)andgrossmargingains。

FortheUKIrelandbusinessweforecastEBITof£260m(+7%yoy)withEBITmarginsincreasingby40bpto6。

0%despite£3mofadditionalcostsassociatedwiththeacceleratedrolloutofScrewfix,CreditSuissesaid。

ForOtherInternational,weforecastEBITof£187mvs£171mintheprioryearwithimprovementswithinprofitabilityfromSpainandRussiawithbreakevenpositionforChinabutPolandEBITdown4%yoy(LFLswere+1。

4%forthefullyear),CreditSuiseadded。

Weexpectmanagementwillalsogivefurtherdetailsonthenextphaseofitsdevelopment(CreatingtheLeader)focusingaroundself-helpinitiativestodrivesales,marginandcostproductivityasmanagementprogressestowardsits2013/14EstretchEPStargetof31。

2p,CreditSuissepredicted。

StockbrokerJefferiesreckonsthatFrancemayrepresentasourceofneartermconcern(2011FrenchDIYspend+3%isatoughbasisatatimewhenthetacklingofthebudgetdeficitislikelytobecomemorevigorouspostPresidentialelections),butlongerterminvestorswillfindcomfortintheextenttowhichself-helpcancontinuetodrivethegroup。

Elsewhereintheretailsector,fashionretailerNextisforecasttoannouncefullyearpre-taxprofitof£566。

3monsalesof£3。

4bn。

Withinthedetail:WeforecastNextRetailEBITof£315m(vs£329mintheprioryear)whereweareassumingadropinoperatingmarginsof30bpgiventhenegativeLFLsalesevolutionalthoughweexpectoverallmarkdownstobeincontrolandforecastgrossmarginsup25bp(flatinH2[secondhalf])。

WeexpectNextDirectorytopostastrongprofitperformanceandforecastEBITof£257mvs£222mintheprioryearwithoperatingmarginsincreasingby30bpto24%,CreditSuissesaid。

WeexpectNexttogivemorecolouronits2012/13outlook,thebrokeradded。

PanmureGordon,meanwhile,getsalltechnical,movingintotheweatherforecastbusiness。

Ourinspectionofmetoffice[MeteorologicalOffice]weathertrendsfromthepast12months(which,forexample,showthatOctoberandNovember2011temperatureswere2-3%higherthanaverage,thatJuly2011temperatureswere1%lowerthanaverageandthatAugust2011was20%lesssunnythannormal)corroborateclothingretailersclaimsthat2011weathermadeatoughyearevenmoredifficult,thebrokersaid,asitsuggestedthattheretailermaybenefitfrommorenormalweatherpatternsin2012。

Onmoremundanebusinessmatters,PanmureGordonnotes,ThecompanywasduetobeginsellingonlineinJapan,ChinaandRussiainH2[secondhalf]2012。

WewillbeveryinterestedtohearfurtherdetailonthisrapidlygrowingpartoftheDirectorybusiness。

PeelHunt,meanwhile,saysthatwhileshort-termtradingisunlikelytobeanythingtobeexcitedabout,scopeforrecoveryincalendar2013hasstartedtobringrenewedenthusiasmfortheretailsectoroverthepastfewweeks。

Managementalwayspaintaclearpictureofhowitseestrading,theeconomicbackdropandtheoutlookforbothNextandtheretailsectorasawhole。

Ifthesectoristocontinueitsrecentrally,managementwillneedtoputforwardamoreoptimisticassessmentthanthatinJanuary。

Turningtotheeconomy,BarclaysCapitalexpectsafallinUKretailsalesforFebruaryaftertwostrongmonths。

Weforecasttheheadlinemeasuretofallby0。

4%m/m[monthonmonth]from0。

9%previouslyandthecoremeasuretofallby0。

5%m/mfrom1。

2%previously,theinvestmentbanksaid。

INTERIMS

Evocutis

INTERIMDIVIDENDPAYMENTDATE

BHPBilliton

QUARTERLYPAYMENTDATE

RoyalDutchShellA,RoyalDutchShellB,TotalSA,Unilever,VirginMediaInc。

INTERNATIONALECONOMICANNOUNCEMENTS

BloombergConsumerConfidence(US)(13:45)

ConsumerConfidenceIndicator(EU)(10:00)

ContinuingClaims(US)(12:30)

HousePriceIndex(US)(14:00)

IndustrialNewOrders(EU)(10:00)

InitialJoblessClaims(US)(12:30)

LeadingIndicators(US)(14:00)

GMS

AquaBountyTechnologiesInc。

(RegS)

FINALS

AlliancePharma,APREnergy,BrainJuicerGroup,Cyprotex,Delcam,EGSolutions,Kingfisher,Next,PortmeirionGroup,PremierOil,Scisys,SignetJewelersLtd。

Skyepharma,Sopheon,SphereMedicalHolding,TrapOilGroup,TribalGroup

EGMS

HellenicTelecomIndustriesSAADS

AGMS

IonaEnvironmentalVCTAShares,JarvisSecurities,ThrogmortonTrust

TRADINGANNOUNCEMENTS

UnitedUtilitiesGroup

UKECONOMICANNOUNCEMENTS

InternetRetailSales(09:30)

RetailSales(09:30)

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