We gives our thoughts on what to expect from companies announcing results week commencing 14 September 2020.
Companies reporting w/c 14 September
Ocado Group Plc (Q3 2020 Sales and Revenue Release - Trading Statement)
This third quarter update from Ocado will only cover trading up to 1st September, which is the day the all-important new Marks & Spencer grocery delivery service began. However, there’s little doubt that the market will be most interested in any comments about the level of demand seen from customers in the first few days given the extensive advertising campaign ahead of the launch and the significance of the new service to both companies. Investors will also be looking to see if revenue growth on the retail side has continued to be strong even as more people head back to the high street.
We currently list Ocado as HOLD.
Next Plc (Q2 2020 Earnings Release)
Shares in clothing retailer Next have recovered well from their April low, outperforming the market so far this year. Sales in the second quarter, as the shops began to reopen, were better than expected and investors will be keen to hear if that continued in August. Any guidance on full-year profits will also be of interest, In July the company said it expected £195m, which is a big drop from the £729m it made last year but was actually better than many in the market had been forecasting. Any comments on returns to shareholders will also be a focus but will depend on the company’s cash levels.
We currently list Next as HOLD
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