Ocado Group Plc Chief Executive Officer Tim Steiner today began to demonstrate to investors that his business is what he’s been telling them for the last three years: a technology company that also delivers groceries.
Dixons Retail Plc, the U.K.’s largest consumer-electronics retailer, said it will report annual pretax profit at the “top end” of analysts’ predictions after fourth- quarter revenue beat estimates on increased sales of tablets and services such as software tutorials.
Ocado Group Plc, the U.K.’s largest online-only grocer, jumped to the highest in more than two years in London trading after Goldman Sachs Group Inc. raised the stock to buy, saying sales growth is set to accelerate.
William Morrison Supermarkets Plc faces a second year of declining same-store revenue as a lack of convenience stores and the absence of an online grocery business hampers progress, Chief Executive Officer Dalton Philips said.
J Sainsbury Plc, the U.K.’s third- largest supermarket company, outstripped its main competitors with a gain in annual profit that beat estimates as a price- matching campaign helped boost its share of the market.
Tesco Plc Chief Executive Officer Phil Clarke’s decision to open fewer big supermarkets in the U.K. marks the end of a space race that has defined the country’s largest retailer for the past two decades, leaving online sales as his next frontier for growth.
Home Retail Group Plc, the owner of U.K. chains Argos and Homebase, rose to the highest price in 17 months after saying that accelerating sales growth at Argos over the holidays means full-year earnings will beat estimates.
Tesco Plc , the U.K.’s largest supermarket company, reported full-year earnings that missed analysts’ estimates and said it expects the domestic market to remain “challenging” after a drop in fourth-quarter sales.