Agenda: Next, Kingfisher and Ocado update the market

Ocado

Ocado posts its third-quarter results on Tuesday.

The online grocery retailer posted a 46.3% decline in EBITDA to £18.1m in the 26 weeks to June 2, down to £18.7m in adjusted terms, as group revenue increased 10.5% to £882.3m.

Ocado posted pre-tax losses of £142.8m compared with a £13.6m pre-tax loss the previous year, down to £43m in adjusted terms during the same period.

The retailer said its decline in profits “reflects the combined impacts of the Andover fire, IFRS 15 delaying the recognition of fees from international solutions partners as revenue, and the cost of share schemes”.

Ocado’s retail sales rose 9.7% during the period to £811.5m, which the etailer attributed to the “resilience” of its grocery arm as the fire at its Andover warehouse had an estimated 2% impact on sales during the half despite a 10% impact on capacity.

Kantar Nielsen

The latest Kantar/Nielsen figures for grocery sales are released on Tuesday.

Hot weather last year and low like-for-like price rises kept a lid on growth in the 12 weeks to August 11. Inflation over the period was 0.9%.

However, discounters Aldi and Lidl, alongside online specialist Ocado, which was the fastest-growing grocer, all achieved strong revenue rises.

Morrisons’ sales were down 2.7% while its market share edged down from 10.3% to 10.1%.

Sainsbury’s revenues fell 0.6% and its market share was 15.4% versus 15.5% in the comparative period last year

Tesco’s sales slipped 1.6% in the period, while its market share inched down from 27.4% to 27%. Asda’s sales fell 1.5% and its market share slipped from 15.2% to 14.9%.

French Connection

French Connection posts its interim results on Tuesday.

The retailer posted underlying operating profit of £0.1m in the year to January 31, bolstered by its wholesale business. Sales increased 10.3% to £76.9m; however, its retail sales slid 10.6% to £58.4m and like-for-likes fell 6.8%.

The fashion retailer announced in October last year it was in discussions with “several interested parties” regarding the sale of the business but said there “can be no certainty that an offer will be made for the company”.

Kingfisher

Kingfisher posts its half-year results on Wednesday.

Kingfisher reported a 1.7% rise in group sales, on a constant currency basis, to £2.84bn in the quarter to April 30. Like-for-likes rose 0.8%.

Sales at B&Q UK and Ireland rose 2.8% like-for-like and the same on a total basis to £851m, while at Screwfix revenues were up 9.6% to £433m.

In France, however, like-for-likes at Castorama slid 3.7% and were down 5.1% in total to just over £1bn.

Kingfisher chief executive Véronique Laury, who is set to be replaced by former Carrefour boss Thierry Garnier, said strategic progress was being made.

Next

Next posts its interim results on Thursday.

The fashion retailer increased its full-year profit guidance after reporting a rise in sales during its second quarter.

The fashion giant said it now expects pre-tax profit to come in at £725m, £10m more than its previous forecast and 0.3% ahead of last year.

It said full-price sales across the year are now anticipated to grow 3.6%, compared with its previous expectation of 1.7%.

ONS

The ONS retail sales figures for August are released on Friday.

Department store sales volumes edged up in July – the first time this year, according to the Office for National Statistics data.

The sales increase may not indicate improved fortunes for department stores just yet, however. The ONS cautioned that “monthly estimates can be more volatile” than longer-term data.