US EQUITIES WEEK AHEAD: Retailers Report; Housing Data Due

Such retailing heavyweights as Wal-Mart Stores Inc. (WMT), Home Depot Inc. (HD) and Gap Inc. (GPS) will report fiscal second-quarter results as the key back-to-school season arrives.

President Barack Obama and his family will travel to Florida's Gulf Coast this weekend, a trip intended to show support for a region whose economy has been hurt by the massive oil spill. Obama has encouraged Americans to continue to vacation in the region, which is heavily dependent on tourism.

Also next week, U.S. economic reports will cover July housing starts and building permit figures and the producer price index.

 
   Retailers May Show Improved Profits

A broad number of retailers are expected to post modest improvement in sales and earnings for the second quarter, after a group of department-store chains kicked off the earnings season this week for retailers and warned of more challenges ahead for some cash-strapped consumers. Earlier this month, the industry reported tepid sales growth in July, despite major markdowns, as the segment gears up for the back-to-school buying season.

Among those expected to report higher results are Lowe's Cos. (LOW) on Monday; Home Depot and Wal-Mart on Tuesday; Target Corp. (TGT) on Wednesday; and Gap on Thursday.

 
   Teen Retailers' Troubles

Teen-focused retailers, which generally had a rough July, are suffering from a more challenging environment as teen unemployment is at record levels. That means young people have less money for new back-to-school clothes, leaving parents to pick up the slack.

Already, Aeropostale Inc. (ARO) has reported fiscal second-quarter sales jumped 9.3%, and it expects to report earnings growth from a year ago, although the results missed Wall Street's expectations. Abercrombie & Fitch Co. (ANF) reported higher revenue and same-store sales for the quarter, while Hot Topic Inc. (HOTT) posted declines.

Abercrombie is scheduled to report results on Tuesday, Hot Topic will report on Wednesday, and Aeropostale and Zumiez Inc. (ZUMZ) on Thursday.

 
   July Data: Producer Prices, Housing

Economists surveyed by Briefing.com expect the producer price index, which measures prices of goods at the wholesale level, to have risen 0.2%, or 0.1% on a core basis, in July after the overall figure declined 0.5% in June, falling for the third straight month.

Meanwhile, the Department of Commerce will report housing starts and building permits data for July. Housing starts fell more than expected in June and hit the lowest level since October. The industry has slumped after expiration of the federal home-buyer tax credit.

 
   Obamas To Gulf Coast

The president and his family will travel this weekend to Florida's Gulf Coast, which suffered from the recent BP PLC (BP, BP.LN) oil spill. While Obama and first lady Michelle Obama have traveled to the Gulf to survey the disaster, it will be the first time they and their daughters travel to the region together since the BP oil spill began in April.

 
   GM's Rumored IPO

General Motors Co, which reported a $1.3 billion second-quarter profit Thursday, is close to registering for an initial public offering. The auto maker's strong results, which were a stark contrast to a year ago when it lost nearly $13 billion and filed for bankruptcy, play a central role in bolstering the company's case that it is a good investment.

 
   PC Makers' Strong Shipments

Analysts polled by Thomson Reuters also expect two of the larger personal computer makers, Hewlett-Packard Co. (HPQ) and Dell Inc. (DELL), to report improved quarterly results on Thursday as worldwide PC shipments jumped 21% in the second quarter, according to preliminary results by Gartner Inc. It would mark the third consecutive quarter of double-digit growth on a year-over-year basis, according to the research firm.

But both Dell and H-P have suffered public relations blows in recent weeks. H-P saw its shares slide after the sudden departure of Chief Executive Mark Hurd over violations of company policy. Meanwhile, Dell shareholders on Thursday agreed to keep the company's founder, Michael Dell, on its board despite calls from two labor groups to have him removed after he and the company settled charges with the Securities and Exchange Commission.

 
   Chinese Solar Companies' Results

Three Chinese solar companies report quarterly results this week, and should benefit from rising demand in the U.S. and abroad, as falling solar-panel prices and clean-energy requirements generate greater interest. A number of companies have already reported better-than-expected results.

Suntech Power Holdings Co. (STP) has already warned that it expects to post a second-quarter loss due to expenses tied to restructuring of its factories and an acquisition, but the company issued a better-than-expected revenue growth target. A day later, Yingli Green Energy Holding Co. (YGE), is expected to reverse a prior-year loss, also on surging demand.

On Monday, JinkoSolar Holding Co. (JKS) will report its first results since going public in May. The company, which makes everything from silicon wafers to solar modules, has said demand has recovered significantly the past year.

 
   Eli Lilly Seeks Broader Usage Of Cymbalta

A U.S. Food and Drug Administration advisory panel meets Thursday to evaluate Eli Lilly & Co.'s (LLY) request to broaden the approved usage of antidepressant Cymbalta to include the treatment of chronic pain. The drug, a follow-up to Lilly's famed Prozac, is currently approved to treat depression, generalized anxiety disorder, diabetic nerve pain and fibromyalgia, and had sales of $3 billion last year. Leerink Swann estimates its use as a treatment for chronic pain could add $500 million to annual sales, but says FDA approval isn't a slam dunk because the agency might want to see more clinical data.

 
   UK Airports' Possible Shutdown

U.K. airport operator BAA will meet with the Unite labor union Monday in an attempt to avoid industrial action, or strike, across six U.K airports. Workers on Thursday voted for industrial action due to a dispute over pay. The move would mean a shutdown of BAA's U.K airports, including London Heathrow and London Stansted.

 
   Conferences

Among the significant conferences next week are Lazard Capital Markets MAGIC Retail & Apparel Conference from Monday through Wednesday in Las Vegas; the California Equity Research Southern California Investor Conference on Tuesday in Newport Beach, Calif; the DisplaySearch Digital Signage Conference on Tuesday in Los Angeles; the Howe Barnes Hoefer & Arnett Inc. Bank Conference on Tuesday in Chicago; the Tuohy Brothers Natural Gas Infrastructure and Production Conference on Wednesday in New York City; and the MoneyShow conference from Thursday through Saturday in San Francisco.

-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

(Peter Loftus and other Dow Jones Newswires staff contributed to this article.)

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