Tesco

The UK’s largest grocer is performing well in the cost-of-living crisis

Supermarket group Tesco (TSCO) is unlikely to upset the applecart when it reports full-year earnings on 13 April.

Trading in the third quarter to 7 January was strong, with group sales up 5.7% helped by a 7.9% surge over the Christmas period.

According to the latest data from Kantar, Tesco posted 6.9% sales growth in the UK in value terms in the 12 weeks to 19 March, slightly behind the market which grew by 8.6% but enough to maintain its 27% market share.

The market is expecting the firm to post revenues of around £65.7 billion, operating profit of £2.6 billion and earnings per share of 21.2p, while Shore Capital’s retail expert Clive Black has been nudging up his forecasts for this year and next year. [IC]

Everyman Media

Everyman should benefit from a busier 2023 release schedule

Premium cinema operator Everyman Media (EMAN:AIM) is due to report full year results on 12 April. Financial highlights came out in a trading statement on 23 January, so investors will be focused on management’s comments regarding current trading and pace of new site openings.

While trading in the new year was encouraging, the uncertain backdrop caused the directors to take a ‘measured’ approach to the rate of new openings. 

Any improvement in tone should be well received given the shares have roughly halved over the 12 months. [MG]

Bang & Olufsen

Scandinavian consumer electronics brand hitting a wall in China

Danish high-end audio and visual products maker Bang & Olufsen (BO:CPH) announces its third quarter earnings on 13 April under something of a cloud.

The company has already unveiled some of the key details of the trading period in an announcement on 17 March when a 65% drop in Chinese sales and lowered margin and profit outlook for the year to 31 May saw its shares suffer double-digit falls.

The company posted an operating loss of $6.14 million for the quarter. Given these details are already out in the open, investors will be alive to any further deterioration in trading and whether the anticipated fourth-quarter improvement in Chinese sales is actually in evidence.

Management has already indicated the reopening benefit from China has not yet come through as expected. [TS]

Infosys

Investors will be watching the performance of digital revenues

Indian firm Infosys (INFY:NYSE), whose shares have a US listing, will be a key focus for technology investors when it reports full year earnings on 13 April.

The company, one of the world’s leading IT services brands, posted a 10% increase in third-quarter sales to $4.6 billion driven by 22% growth in digital revenues.

Year-to-date the shares have fallen 6% compared with a 3.5% loss for the Sensex Index (SENSEX:INDEXBOM) and a 20% gain for the Nasdaq Composite index. [IC]

UK UPDATES OVER THE NEXT 7 DAYS

FULL-YEAR RESULTS

12 April: Crimson Tide, LGB Media, Everyman Media, Argentex

13 April: Tesco

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

7 April: CK Infrastructure

10 April: Hysan Development, PriceSmart

11 April: CarMax, Eaton Vance

12 April: Washington Federal, Apogee

13 April: Infosys

EUROPE UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

13 April: Bang & Olufsen

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