The Week Ahead: Four trading days come filled with retailer updates

Next will follow B&Q and Screwfix owner Kingfisher, which reveals its full-year results on Wednesday

A fresh assessment of the health of Britain’s High Streets is on its way this week thanks to four trading days replete with updates from retailers. Thursday’s full-year results from Next, often considered a bellwether, will be the most closely watched after the chain’s disappointing festive performance.

The company blamed the unseasonably warm winter, stock issues and a bigger-than-anticipated shift in buying patterns for a surprise 0.5 per cent decline in sales in the 60 days to Christmas Eve. The Lord Wolfson-led firm downgraded its full-year profit forecast to £817m from £827m as a result.

Its trouble was compounded last week by a note from Haitong Research, which concluded that the good times were over for its credit-driven Next Directory business as more customers convert to online shopping.

Next will follow B&Q and Screwfix owner Kingfisher, which reveals its full-year results on Wednesday.

City scribes have pencilled in a 4 per cent drop in pretax profit to £688m as the group ploughs ahead with an overhaul. Kingfisher announced the closure of 60 stores in the UK and the loss of around 3000 jobs last year.

The annual figures come as Kingfisher prepares to deal with revitalised competitor Homebase, following its sale by Home Retail Group to deep-pocketed Australian conglomerate Wesfarmers. But analysts at Numis suspect investors will be more focused on what Kingfisher has to say about the Easter trading backdrop.

Also reporting on Wednesday are furniture store DFS and Game Digital. Game issued a profit warning before Christmas as sales of games for both old and new consoles slowed, but it managed to avoid a second alert three weeks later.

Tomorrow could be the busiest day in the City thanks to updates from 888 Holdings, Thomas Cook, United Utilities, Jimmy Choo and Bellway.

It’s a big day on the economic calendar too, with inflation data due. Economists polled by Reuters suggested prices edged higher in February and the consumer price index will likely come in at 0.4 per cent. Prospective home buyers will be on the lookout for the latest snapshot of the housing market, which comes today courtesy of Rightmove.