Bumper gains for the online grocer Ocado this morning after the company published a trading statement for the quarter to 1st December. This saw a sharp increase in active customers, whilst retail revenues were up 17.5%, cementing the position as the UK’s fastest growing supermarket. Increased efficiency in customer fulfilment centres was also noted and Christmas trading impressed too, with a record breaking festive season being reported. Expectations for further growth will be reflected in full year numbers due at the end of next month. The Ocado share price was up almost 12% within the first hour of trade.
The athleisure wear retailer issued a trading statement this morning covering the nine weeks to 4th January. Management badged it as being a robust performance amidst a challenging economic backdrop, but a commitment to maintaining margin and nit getting drawn into heavy discounting appears to have hampered progress. Full year profit guidance has been revised lower once again, with a range of £915m-£935m now being stated. The JD Sports share price fell by almost 10% in early trade in response to the news.
A full year trading statement from the housebuilder is out and the news has given investors cause for cheer, with full year pre-tax profits now expected to land at the upper end of guidance. The 7% growth in completions was ahead of market forecasts, average selling prices rose by 5% and the forward sales position is improving, too. That’s given the Persimmon share price a shot in the arm with gains of around 5% by 9am although the stock had been wallowing at a two year low amidst broader UK economic unease.
Headlines we expect on Wednesday
Currys Trading Statement
This time last year YTD sales -4%
Hays Trading Statement
This time last year Net fees growth -10% LFL basis, Net cash 30/12 £60m
