Next week investors can feast on corporation updates and economic data

THE main focus next week will be on a glut of key economic data, including inflation figures and an update from the high street, but investors will also be able to feast on a number of corporate updates.

On Thursday, retail and distribution group WH Smith is expected to post final pre-tax profits of £120 million a slide on last year's £130 million.

But while sales have slowed during the year, operating margins have improved and fund manager Gerrard is expecting operating profits to come in on a par with last year's level.

Analysts and investors are likely to focus on the group's US performance. Rocked by September 11, the subsequent slump in travel and weak economic recovery, the City will want to hear how WH Smith intends to stem losses in this division.

Earlier this year retailer GUS partially floated its luxury goods brand Burberry, one of the few firms to brave the turbulent equity markets. On Monday, a day before its parent, Burberry will update the City on first-half trading.

Burberry posted 5% growth in the first quarter but fund manager Gerrard believes this may have slowed over the second quarter. However, the group is well-positioned within the luxury goods sector and its growth is still expected to be above that of its rivals.

On Tuesday, Argos-owner GUS is due to update the City on trading in the second quarter and across the first half.

Earlier this year, the market was disappointed with 5% growth in the first quarter at Argos but this has since proved a reasonable showing as conditions ease on the high street.

With support coming from the July launch of the Autumn/Winter Argos catalogue, growth is not expected to have slowed in the second quarter but a gloomy note may come from GUS' credit business Experian due to tough conditions in the US.

On Wednesday, when N Brown posts interim figures, investors will be interested to hear what plans new chief executive Alan White has for continuing growth in the long-term.

The group is expected to post interim pre-tax profits of £29 million up from £25.3 million last year.

The City will be able to mull over a raft of economic data this week, which kicks off with the British Retail Consortium's September sales figures on Monday.`

On Tuesday, September's inflation levels are expected to remain unchanged after August's 1.9% slide while a day later, unemployment figures are due out. Analysts will be interested to see if unemployment can continue to hold at its current low levels given the present uncertainly.