M&S to report £6.6bn in sales amid turnaround in fortunes Business Such a performance would put further weight behind comments from boss Stuart Machin in May, hailing the "beginnings of a new M and S."
The ‘battle for value is on’ at UK grocers as supermarkets push discounts Retail Higher spending at supermarkets over the last month has been driven by sales of discounted goods as grocers compete to bring financially-stretched customers through their doors, according to fresh data. Grocery price inflation increased slightly to two per cent during the four weeks to 29 September, up from 1.7 per cent last month, according to [...]
Congestion charge: Ocado leads push against ‘money making’ levy Retail More than 40 UK businesses, including Ocado, the AA, and Openreach, have urged Sadiq Khan to scrap plans to extend the £15 daily congestion charge to electric vans. The businesses argue that this hugely unpopular congestion charge if continued, would severely impact those who have invested in greener fleets. Under Transport for London (TfL)’s current [...]
Ocado shares jump after firm hikes sales outlook on M&S joint venture September 19, 2024 Ocado shares jumped more than 10 per cent in early deals this morning after the company hiked its sales guidance. The retail arm of the London-listed group, Ocado Retail, a 50:50 joint venture between Ocado Group and Marks & Spencer Group, reported revenue growth of 15 per cent in the 13 weeks to 1 September [...]
Bordeaux month: Here are the best clarets to celebrate September 10, 2024 September has been named Bordeaux month – it seems every grape has its own international wine day so why not dedicate an entire month to one of the most renowned and beloved wine regions in the world. Here’s what you need to know when selecting a bottle of Bordeaux red. Firstly, French wine is often [...]
Grocery inflation stabilises, but Brits still concerned about shopping costs September 10, 2024 Grocery inflation has returned to its downward trend but nearly two thirds of Brits remain worried about the rising cost of their shopping, according to fresh data. Annual grocery price inflation in the four weeks to 1 September fell to 1.7 per cent, down from 1.8 per cent in the previous four-week period, according to [...]
What it takes to forage for gold in a growing health and wellness market September 2, 2024 For start-ups, the hunt for capital can be difficult. It can be so difficult, most entrepreneurs turn to credit cards to find the money.
Ocado cements Coles partnership as Australian fulfilment centres open August 27, 2024 Online grocer Ocado has announced that its two fulfilment centres in Australia commenced operations in July after a year of delays. The centres, which will serve communities in Melbourne and Sydney via Ocado’s Smart Platform, were opened in partnership with Australian online grocer Coles. The partnership was signed in 2019 and has been subject to [...]
Who is Asda’s chair and why does he want Mohsin Issa to step away? August 12, 2024 Depending on your age and your attention span towards the in and outs of the UK retail scene, you may or may not have heard of Lord Stuart Rose. Knighted in 2008 for his services to the retail industry, he has spent twenty years running some of the biggest names in UK retail: Argos, Marks [...]
Ocado’s yo-yoing stock swings up again: Will critics ‘put away knives they’ve been sharpening’? July 16, 2024 A strong set of results this morning sent Ocado’s stock up 18 per cent, a day after a downgrade from leading broker Bernstein sent it down 10 per cent yesterday. In its interim results for the 26 weeks to 2 June 2024, the company reported revenue of £1.5bn, up by 12.6 per cent year on [...]