Ocado set to post grocery growth in latest festive update

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Tuesday’s update comes after two weeks of UK retail updates which have largely pointed towards resilient spending among shoppers. “We expect this trend to have continued in the final quarter, and we’ll find out the extent of changing customer attitudes over the important festive season.” However, other retailers such as Sainsbury’s have hailed strong sales of their luxury lines as shoppers celebrated Christmas and New Year, which could provide Ocado with some respite. Russ Mould, AJ Bell investment director, said: “Shares have since rallied, helped by the latest licensing deal for the Ocado Smart Platform, this time with South Korea’s Lotte Shopping, and shareholders will look for an update here and progress at the other licensing deals, in the US, France, Sweden, Canada and others.” Investors will also be keen to hear the firm’s earnings outlook amid continued cost inflation, with AJ Bell highlighting that a consensus of analysts have predicted a loss of around £47 million in earnings for the past year.