Week Ahead: Big week for clothing retailers

The second full week of July has a clothing theme with clothing outfits as diverse as Marks and Spencer, ASOS, Supergroup, Burberry and Associated British Foods (owner of Primark), all giving updates.As broker Matrix Group observes, the insipid share price performance of Marks & Spencer (M&S) of late suggests that the market is expecting "a stinker of an update" but Matrix is of a more optimistic frame of mind; so optimistic, in fact, that it recently upgraded the shares from "hold" to "buy"."We forecast flat general merchandise LFL [like-for-like] sales and 3.0% food sales growth for Q1 [first quarter]," Matrix said. "The general merchandise number is likely to be a substantial improvement on the 3.9% decline reported in Q4, we believe. Our food sales growth forecast is supported by monthly Kantar food retail market share data. Like Debenhams and John Lewis, M&S has begun its summer sales early this year, so there is a slight risk of increased margin pressure from higher-than-expected markdowns, but as with Debenhams, we expect to come out of the Q1 announcement with our full-year forecasts intact, even if the manner of reaching them shifts from margin to top line," the broker added.Monday July 11QUARTERLY PAYMENT DATEAfrica Opportunity Fund Ltd.FINALSBglobal, Invista Foundation Property Trust Ltd.SPECIAL DIVIDEND PAYMENT DATECapital Gearing TrustEGMSBank of IrelandAGMSRGI International Ltd.TRADING ANNOUNCEMENTSMichael Page International, XP Power Ltd. (DI)FINAL DIVIDEND PAYMENT DATEAmiad Filtration Systems Ltd., Capital Gearing Trust, May Gurney Integrated ServicesFINAL EX-DIVIDEND DATETongaat-Hulett Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSM3 Money Supply (JPN)Consumer Confidence (JPN)Machine Tool Orders (JPN)Industrial Production (07:45) (FRA)Manufacturing Output (07:45) (FRA)Tuesday July 12INTERNATIONAL ECONOMIC ANNOUNCEMENTSTertiary Industry Index (JPN)CGPI (JPN)Bank of Japan Target RateWholesale Price Index (GER)Consumer Prices Index (FRA) (06:30)Consumer Price Index (GER) (07:00)Current Account (FRA) (07:45)NFIB Small Business Optimism (US) (12:30)Balance of Trade (US) (13:30)GMSInvestec Structured Products Calculus VCT, Southern Cross Healthcare GroupIMSSIntermediate Capital GroupAGMSBahamas Petroleum Co, Brulines Group, Caza Oil & Gas Inc. (CDI), Luminar Group Holdings, Squarestone Brasil Ltd., Young & Co's Brewery 'A' Shares, Young & Co's Brewery (Non-Voting)TRADING ANNOUNCEMENTSComputacenter, Premier OilUK ECONOMIC ANNOUNCEMENTSBRC Sales Monitor (00:01)Balance of Trade (09:30)Consumer Price Index (09:30)Retail Price Index (09:30)RICS Housing Market Survey (09:30)DCLG House Prices (09:30)FINAL DIVIDEND PAYMENT DATEGreat Portland EstatesWednesday July 13INTERIMSCharlemagne Capital Ltd.INTERIM EX-DIVIDEND DATEChemring Group, Dewhurst, Domino Printing Sciences, Holidaybreak, Safestore Holdings, ZytronicQUARTERLY EX-DIVIDEND DATESchroder Income Growth FundINTERNATIONAL ECONOMIC ANNOUNCEMENTSIndustrial Production (JPN)Capacity Utilisation (JPN)Bank of Japan Monthly Economic ReportIndustrial Production (EU) (10:00)MBA Mortgage Applications (US) (12:00)Import and Export Price Indices (US) (13:30)Crude Oil Inventories (US) (15:30)Treasury Budget Statement (US) (19:00)FOMC Interest Rate Minutes (US) (19:00)GMSCarr's Milling Industries, MWB Business Exchange, Origin EnterprisesFINALSDigital Marketing Group, SupergroupIMSSBurberry GroupAGMSAlbany Inv Trust, BT Group, IBIS Media VCT, ICAP, Lombard Risk Management, Marks & Spencer Group, Mitie Group, Sainsbury (J), Speedy Hire, Telecom Plus, UK Mail Group TRADING ANNOUNCEMENTSJD WetherspoonUK ECONOMIC ANNOUNCEMENTSClaimant Count Rate (09:30)Unemployment Rate (09:30)Average Weekly Earnings (09:30)ILO Unemployment Rate (09:30)FINAL DIVIDEND PAYMENT DATEC&C Group, JPMorgan European Smaller Companies Trust , WhitbreadFINAL EX-DIVIDEND DATEAmati VCT , Cropper (James), Empresaria Group, Establishment Inv Trust, FirstGroup, GB Group, Hornby, IBIS Media VCT, Intermediate Capital Group, Invesco Asia Trust, JPMorgan Brazil Inv Trust , Majestic Wine, Mountview Estate, Sepura, Telecom Plus, TP70 2008 (I) VCT, TP70 2008 (II) VCT, Ventus 2 VCT, Ventus VCT, Workspace GroupQ1ICAP, Marks & Spencer GroupThursday July 14INTERIM DIVIDEND PAYMENT DATEAI Claims Solutions, Hargreave Hale AIM VCT 1QUARTERLY PAYMENT DATEYamana Gold Inc.INTERNATIONAL ECONOMIC ANNOUNCEMENTSMachine tool Orders (JPN)ECB Monthly Budget Report (EU0 (09:00)Consumer Price Index (EU) (10:00)Harmonised Index of Consumer Prices (EU) (10:00)Business Inventories (US) (13:30)Continuing Claims (US) (13:30)Initial Jobless Claims (US) (13:30)Producer Price Index (US) (13:30)Retail Sales (US) (13:45)Bloomberg Consumer Confidence (US) (14:45)Retail Sales Inventories (US) (15:15)GMSMission Capital, Wynnstay PropertiesFINALSSports Direct InternationalANNUAL REPORTDS SmithIMSSAssociated British FoodsEGMSKazakhGold Group Ltd. GDR (Reg S)AGMSAlterian, Biotech Growth Trust, Burberry Group, Chalkwell Investments, Hamworthy, Mothercare, Nature Group, Octopus AIM VCT, Telford Homes, Wynnstay Properties, ZamanoTRADING ANNOUNCEMENTSAshmore Group, ASOS, Mothercare, RSM Tenon GroupFINAL DIVIDEND PAYMENT DATEAlliance Pharma, Chamberlin, Young & Co's Brewery 'A' SharesFriday July 15INTERIM DIVIDEND PAYMENT DATEGooch & Housego, Manroy, Princess Private Equity Holding Ltd., RWS Holdings, Scottish Inv Trust, United DrugQUARTERLY PAYMENT DATEMarsh & Mclennan Cos Inc.INTERNATIONAL ECONOMIC ANNOUNCEMENTSTrade Balance (EU) (10:00)Consumer Price Index (US) (13:30)Empire State Manufacturing Survey (US) (13:30)University of Michigan Consumer Confidence (US) (14:55)Industrial Production (US) (16:15)GMSRed Emperor Resources NL (DI)ANNUAL REPORTMountview EstateIMSSDCC, Electrocomponents, ExperianAGMSBritish Land Co, British Land Co, Chagala Group Ltd. GDR (Reg S), China Private Equity Investment Holdingd Ltd. (DI), DCC, Electrocomponents, Ensor Holdings, FirstGroup, Ormonde Mining, PayPoint, Walker Crips GroupTRADING ANNOUNCEMENTSRecord, SpectrisFINAL DIVIDEND PAYMENT DATEAshley (Laura) Holding, Densitron Technologies, Downing Planned Exit VCT 2 'C' Shares, Downing Planned Exit VCT 3 'C' Shares, Game Group, HaiKe Chemical Group Ltd. (DI), Harvey Nash Group, Marks & Spencer Group, Octopus Apollo VCT 3, Phaunos Timber Fund Ltd., Sainsbury (J), Tribal Group, Utilico Emerging Markets Ltd., UTV Media, Value and Income Trust, Vislink