Retail reporting bonanza set to reveal festive cheer

TOMORROW promises a reporting bonanza, with Christmas updates expected to reveal robust trading over the festive season.

Home Retail Group, owner of Argos and Homebase, is expected to reveal an increase in their 2009/2010 profit forecast after sales growth last year.

Meanwhile Halfords, HMV, Mothercare, Premier Oil and Premier Foods, the UK’s largest food producer, are all set to update the market.

Although this week has seen encouraging figures from Tesco, John Lewis and J Sainsbury, the retailer’s industry body warned there is likely to be no growth in consumer spending over the rest of 2010.

Stephen Robertson, director general of the British Retail Consortium, said there is likely to be increasing consumer uncertainty during the year.

Friday will see more trading statements from Experian, Man Group and Smith News.