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Three Quick Facts: Ocado, Naked Wines and Revolution Bars


Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Ocado Q4 numbers look underwhelming

Christmas numbers are out from Ocado [LON:OCDO] today, along with the Q4 trading update. Order volume was up 1.9% YoY but average basket costs were down 1.3% against the comparative That resulted in a very modest uptick in retail revenue of just 0.3%, well below inflation. The company adds that it had a strong Christmas with sales up 15% in the five days before the festival, but investors may struggle to get excited about this even with the promise of starting 2023 with good momentum.

#2. Naked Wines outlook upgraded but market contraction set to follow

Naked Wines [LON:WINE] has issued Q3 numbers to 26th December this morning, which includes an upward revision in EBIT guidance of almost 50%. The company notes improved repeat customer contributions but the note admits that reductions in spend on acquisition will mean that the company won’t scale from here, leading to a modest decline in FY24 revenues, albeit against a lower cost base.

#3. Revolution Bars full year outlook downgraded as woes mount

Keeping with a theme here and Revolution Bars [LON:RBG] have issued their trading update for the 26 weeks to 31st December. The comparatives are clumsy given train strikes in 2022 and the Omicron variant in 2021 and whilst there were some signs of optimism, the overall picture was far from upbeat. Record summer temperatures and waning consumer confidence are taking a toll and that has resulted in management reassessing full year outlook, suggesting that EBITDA will be lower than previously forecast, coming in at the bottom end of market expectations.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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