Agenda: Ocado and DFS to update the market

Ocado

The online grocer reports its final results on Tuesday, February 6.

Ocado has revealed its second major international deal, joining forces with Canadian grocery giant Sobeys to create an online food business.

Sobeys, which operates more than 1,500 stores and raked in revenues of almost C$24bn (£13.87bn) in its last financial year, will leverage Ocado’s Smart Platform to launch groceries online.

The news came hot on the heels of its tie-up with French grocery retailer Casino, with the two signings putting an end to speculation that a much-vaunted international deal might not come to pass.

At Ocado’s last results, group sales rose 14.3%, allowing the etailer to plough investment into its state-of-the-art technology proposition.

DFS

The sofa specialist’s half-year update on Thursday, February 8, will provide a temperature-check for the health of the furniture market.

DFS, which recently acquired Sofology and some assets from the liquidated Multiyork, issued a profit warning last year amid volatile consumer confidence.

Pre-tax profit tumbled 22.3% while sales were largely flat year on year, with revenue nudging up 0.9%.

Investors will be keen to get a read on how chief executive Ian Filby is feeling about the retailer’s full-year prospects and the wider big-ticket market as consumer confidence continues to be shaky.