A plethora of stocks on our watchlist are set to release trading updates and results next week…
And so, making our list of stocks to watch this week are discount retailer B&M (LON: BME), luxury firm Watches of Switzerland (LON: WOSG), and Associated British Foods (LON: ABF).
Other names set to report updates this week include Auto Trader, Gym Group, Marks & Spencers, and WH Smith.
- B&M will post its FY2023 interim results on Thursday, November 10.
- Given the current macroeconomic situation, B&M is a stock we like from a demand standpoint as consumers trade down and look for bargains amid soaring inflation.
- Looking at B&M website traffic, we can see demand has remained solid, holding the majority of its gains made during the pandemic.
- The company’s shares are down over 44% in 2022, although they have gained 9% in the past month, and we see it moving higher this week as long as general market sentiment remains positive.
Watches of Switzerland (WOSG)
- Watches of Switzerland will report a Q2 FY23 trading update on Wednesday, November 9.
- Lower-end retailers have been struggling this year due to the current macroeconomic climate, but luxury and high-end retailer demand has remained resilient, as WOSG mentioned in its Q1 release.
- Looking at web traffic to the company’s site, we can see that despite a dip at the start of the year, it has climbed since July.
- In addition, revenue in the luxury watch market is scheduled to grow to $43.17 billion in 2022 from $41.57 billion in 2021.
- Like BME, we see upside in WOSG shares if general market sentiment remains positive.
Associated British Foods (ABF)
- Associated British Foods is scheduled to release its final results on Tuesday, November 8.
- The company’s shares are down 30% in 2022 but have climbed 9% in the last month.
- Earlier in the year, ABF increased some prices at Primark but said it would hold off from further rises as shoppers feel the impact of soaring prices.
- Based on web traffic to its website, Primark’s demand certainly looks strong, with visits to its site at all-time highs, according to Semrush data.
- ABF is expected to reveal sales growth of around 20%.