Dixons Carphone and Carpetright reveal full-year results, plus interim figures from Ocado are all on the agenda this week.
The online grocer unveils its half-year results on Tuesday, weeks after rival etailer Amazon brought its Fresh grocery proposition to the UK. Ocado has always been bullish about the arrival of the US titan and maintained that it will benefit from the heightened competition, as more consumers make the shift to online. Ocado posted a 13.8% rise in sales in its first quarter to February 21 and shipped 250,000 orders in a week for the first time as it continued to grow its customer base.
The flooring specialist reports its full-year results on Tuesday. The business has undergone a period of regeneration under chief executive Wilf Walsh and is seeking to build further momentum. As well as rejuvenating the retailer’s fascia, Walsh has been trialling four new store formats, experimenting with size, layout and proposition. City analysts will be seeking an update on progress of the pilot stores as part of the preliminary figures. Carpetright posted a 0.7% increase in UK like-for-likes during its fourth quarter and said its profits for the full-year would be in line with expectations.
Analysts will have high expectations ahead of Dixons Carphone’s full-year results on Wednesday. Following a highly successful merger, the group’s boss Seb James hailed an “excellent year” when it unveiled fourth quarter figures last month, which revealed a 4% increase in like-for-like sales in the UK and Ireland. Dixons Carphone admitted that it has “enormously ambitious plans”, more details of which will be expected during its full-year update.
Retailers will be hoping that consumer confidence has continued its upward trajectory over the past month having reported a marginal increase in April. With Brexit uncertainty looming last month, it is unlikely that shoppers would have felt optimistic about the UK’s economic outlook. But big ticket purchases continued a resurgence and furniture retailers would have continued to reap rewards if shoppers felt affluent enough to continue making big-ticket purchases.