<\/p>\n
JD Sports slashed its profits outlook<\/p>\n
Sportswear retailer JD Sports recently slashed its profit outlook on continued US weakness amid cost-of-living pressures and delayed back-to-school spending.<\/p>\n
Trading in the UK returned to positive like-for-like sales growth in the second quarter, supported by strong sales of football replica kit.<\/p>\n
Despite the profit downgrade JD Sports stuck to its free cash flow guidance with the group flipping into a net cash position in early August from a net debt position. This provides it with some cushioning to absorb the pressure from downbeat consumer sentiment, says AJ Bell.<\/p>\n
Investors will be looking for clarity on the extent of US promotional activity and margin implications as well as an update on ongoing store closures.<\/p>\n
Kingfisher<\/p>\n
Tough prior comparatives and a late start to spring dented the DIY group\u2019s first-quarter like-for-like sales growth despite Screwfix continuing to take market share in trade.<\/p>\n
Nevertheless, the B&Q and Castorama owner stuck with full-year guidance which implies management confidence of returning to positive like-for-like sales growth off the back of a recovery in \u2018big ticket\u2019 purchases.<\/p>\n
After nearly seven years at the helm, CEO Thierry Garnier announced in May that he was leaving which introduces uncertainty over succession, and his replacement is likely to face a tough backdrop.<\/p>\n
Garnier launched Kingfisher marketplaces and developed the trade business which means the company is less reliant on traditional DIY carried out by individuals.<\/p>\n
DIARY<\/p>\n
Monday 21 September<\/p>\n
Full-year results from Craneware<\/p>\n
Tuesday 22 September<\/p>\n
Trading statement from Henry Boot<\/p>\n
Half-year results from Kingfisher, Smiths<\/p>\n
Wednesday 23 September<\/p>\n
Full-year results from Renishaw<\/p>\n
Half-year results from JD Sports Fashion, Judges Scientific<\/p>\n
UK and US composite PMIs for September<\/p>\n
Thursday 24 September<\/p>\n
Full year results from CVS<\/p>\n
Half-year results from Raspberry Pi<\/p>\n
\t #Investors #seek #update #Sports #stores #Kingfisher #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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