Last week Tortilla tumbled, Greggs gained and Tesco…fell, following interim results and updates.
This week we are looking to see if ASOS will surprise in its full-year results, whether Unite will benefit from increasing university applicants and whether Hays will be impacted by a reported UK hiring slowdown.
Unite Group (UTG)
- Student accommodation business Unite is scheduled to release a trading update on Monday, October 10.
- The company’s shares are down 29% in 2022.
- In its interim results back in July, the company said university applications for 2022/23 were up 7% on pre-pandemic levels, and it is confident of achieving 97% occupancy and rental growth of 3.5-4.0% for 2022/23.
- ASOS will report its full-year results on Wednesday, October 12.
- ASOS shares are down 78% in 2022 as soaring inflation and the cost of living crisis dampened consumer spending.
- In a trading update in September, the company said it experienced good growth in June and July, but sales in August were weaker than anticipated, with full-year sales expected to be “in the range of market expectations” and profit anticipated to be around the bottom end of company guidance.
- According to MoPh Markets tracking of Twitter mentions, demand has stabilised at lows in recent weeks, while web traffic has risen in the last few months.
- ASOS is still in the top five most shorted London-listed companies, but we are Neutral ahead of its release and no longer have a bearish view on the stock.
- Hays will release a trading announcement on Thursday, October 13.
- The recruitment firm’s shares are down just under 31% in 2022 after an 11% decline in the last month.
- Hays web traffic is rising, although Google Trends data shows searches for the company are still around its pandemic lows.
- In addition, a jobs report survey by KPMG and REC said hiring slowed in September amid a weaker economic outlook and candidate shortage