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Look out for US Retailers, Local Releases Lose Steam

By Thabiso MamathubaStock MarketsDec 04, 2018 04:32
za.investing.com/analysis/look-out-for-us-retailers-local-releases-lose-steam-200197915
Look out for US Retailers, Local Releases Lose Steam
By Thabiso Mamathuba   |  Dec 04, 2018 04:32
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Some of the local earnings releases to take note of this week include:

  • Sanlam (JO:SLMJ) (Operational Update): Management indicated that economic growth prospects in Sanlam’s main markets are not expected to improve in 2H18, which management believes will impact on its ability to accelerate organic growth. Leadership did, however, mention that structural growth and new initiatives such as the Capitec Bank (JO:CPIJ) agreements should support the 2H18 operational performance.
  • From a local corporate actions perspective, Tuesday marks the last day to trade in Coronation, Investec PLC, Mediclinic, Stor-Age Property, Transaction Capital and Tsogo Sun (JO:TSHJ) to receive their most recent distributions. Aveng, Aspen (JO:APNJ) Pharmacare, Spur (JO:SURJ) Corporation, African Rainbow Minerals (JO:ARIJ) and Harmony Gold will host AGMs next week.

While earnings season continues to wind down across the globe, several specialised US retailers are expected to release quarterly numbers including AutoZone (NYSE:AZO) (aftermarket automotive parts and accessories), Kroger (NYSE:KR) (one of the largest US supermarket chains by revenue and the second-largest general retailer) and Ulta Beauty (beauty product retail chain). Bloomberg is guiding for positive earnings growth from all three companies with strong growth from AutoZone expected to have been driven by positive industry trends including favourable weather patterns during the year and uplift from an ageing vehicle population (Deutsche Bank (DE:DBKGn) Research).

Company Events Calendar
Company Events Calendar

Look out for US Retailers, Local Releases Lose Steam
 

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Look out for US Retailers, Local Releases Lose Steam

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