With the next Consumer Price Index report on the horizon and questions swirling around inflation, interest rates, and consumer spending, many investors are looking for pockets of relative calm. Consumer Staples and Utilities often sit on watchlists during periods of uncertainty, as their products and services tend to remain in demand even when sentiment is fragile. This article looks at how upcoming inflation data and potential Federal Reserve moves could affect a selection of these stocks, and highlights 3 companies from our Defensive Sectors screener that appear positively exposed to the current macro story.

Cobram Estate Olives (ASX:CBO)

Overview: Cobram Estate Olives produces and sells branded olive oil and related products, running vertically integrated olive farms, mills, bottling, storage, nurseries and labs across Australia, the United States and selected export markets. Its products span extra virgin and refined olive oils, olive leaf teas and technical services, sold under labels such as Cobram Estate and Red Island.

Operations: Cobram Estate Olives generates most of its revenue from Australian Operations at A$177.6 million, with A$60.8 million from US Operations and a small A$5.4 million reduction from Eliminations & Corporate.

Market Cap: A$1.9b

Cobram Estate Olives gives you pure Consumer Staples exposure at a time when inflation and rate uncertainty are back in focus, with branded olive oil that sits firmly in the “everyday essentials” basket. The business has been growing earnings quickly and currently reports an 18% net margin, supported by a vertically integrated model and experienced management and board. At the same time, the stock trades on a high P/E and relies heavily on external debt, while rising water costs and ongoing US expansion spending could pressure future cash flow. If you want to understand whether those risks justify the current valuation or present an opportunity before the next CPI print and results on August 28, 2026, you will need to look closer at what the market may be missing on Cobram Estate’s growth, margins and balance sheet.

Cobram Estate Olives looks like an earnings story that many investors have only half read, with an 18% net margin, a vertically integrated model and a high P/E that invites closer scrutiny through the analysis report for Cobram Estate Olives

Marks and Spencer Group (LSE:MKS)

Overview: Marks and Spencer Group is a UK based retailer that sells food, clothing, homeware, beauty products and related services through its store network, online channels, international franchises and the Ocado partnership.

Operations: Marks and Spencer Group generates revenue primarily from Food at £9.7b, followed by Fashion, Home & Beauty at £3.8b, Ocado at £3.2b and International at £543.3m.

Market Cap: £7.8b

Marks and Spencer Group stands out as a Consumer Staples heavyweight at a time when investors are looking for resilient spending patterns around the next CPI print and potential rate decisions. The company now generates over £17.2b in annual sales, with food and grocery at its core, while also investing in store upgrades, digital channels and a modernised supply chain that aims to lower costs and support earnings growth. At the same time, net margin sits at 1.5%, Ocado Retail is still loss making and recent profit has been affected by one off gains and higher investment. For investors trying to balance inflation risks, valuation questions and the new dividend stream, the key question is whether current execution and future efficiencies can justify the price tag as the macro story evolves.

Marks and Spencer Group is leaning into food led resilience and fresh investment, yet a 1.5% net margin and loss making Ocado stake leave a big question. See how analysts frame the analyst forecasts for Marks and Spencer Group

United Natural Foods (UNFI)

Overview: United Natural Foods is a major North American wholesaler that supplies supermarkets, independents, and other retailers with a wide range of natural, organic, specialty, fresh, and conventional groceries, alongside private label brands and retail services.

Operations: United Natural Foods generates most of its revenue from the Natural segment at US$16.9b and Conventional at US$13.3b, with US$2.2b from Retail and a US$1.1b reduction from Eliminations.

Market Cap: US$3.0b

United Natural Foods provides Consumer Staples exposure at wholesale scale, with a footprint across organic, natural, and conventional groceries that may be relevant for some investors when inflation and interest rate questions are front of mind. The stock currently trades below some estimated fair value markers, while recent quarters have shown improving profitability, cost efficiencies, and progress on debt reduction, supported by refinancing actions that lower funding costs. At the same time, the company is coming off a period of losses, carries meaningful leverage, and faces pressure to keep investing in IT and supply chain upgrades, within a fiercely competitive distribution market. A key consideration for investors is whether margin gains and natural product strength can offset softer sales trends and funding risk as inflation data and Federal Reserve policy decisions influence sentiment around staples distributors such as United Natural Foods.

United Natural Foods looks like a turnaround story in motion, with improving profitability, debt work and refinancing all pointing to a reset. See how the 3 key rewards and 1 important major warning sign could change how you view its next chapter

The three stocks covered here are just the starting point, with the full Defensive Sectors (Consumer Staples and Utilities) screener surfacing 40 more Consumer Staples and Utilities companies that carry similarly interesting stories around resilience, balance sheet strength and future potential. Use Simply Wall St to analyze those companies side by side and identify the specific catalysts, risk profiles and narratives that align with your highest conviction defensive ideas.

Take Control of Your Investment Journey

If Marks and Spencer Group or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

Seeking Alternatives Beyond Defensive Staples?

Fresh ideas move first, and the best entry points often appear before the crowd catches on. Scout new themes with real momentum while it still matters, and consider acting early if they fit your strategy.

• Explore reliable income streams by reviewing 4 dividend fortresses that could help anchor a portfolio if growth stocks start dropping or volatility picks up.
• Look for potential breakout leaders by assessing the 12 high quality undiscovered gems that remain under the radar for now.
• Evaluate opportunities in tech infrastructure by scanning 51 AI infrastructure stocks, focusing on companies that support AI demand.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.