Ocado set to post grocery growth in latest festive update January 15, 2023 Ocado investors will be hoping it becomes the latest retailer to indicate that consumer spending over the key festive quarter was more resilient than many expected. The online retail giant is set to post an increase in grocery sales over the latest period when it updates investors on Tuesday 17 January. The firm’s technology operation [...]
Ocado: Signs of progress at last as firm looks to continue share price turnaround September 19, 2023 Upmarket grocer Ocado has reported a 7.2 per cent surge in revenues to £569.6m in the third quarter as turnaround plans under the guidance of its year old chief executive appear to show signs of paying off. The digital supermarket, which operates as a joint venture with M&S, said the average orders per week at [...]
FTSE 100 close: Barclays, HSBC and Lloyds retrace losses as Ocado soars July 24, 2023 London’s FTSE 100 retraced early losses today to close in the black, driven higher by online supermarket Ocado surging after it settled a dispute over its warehouse technology. The capital’s premier index climbed 0.19 per cent to 7,678.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Ex Ted Baker boss joins Ocado as Amazon takeover rumours swirl June 27, 2023 The former boss of British fashion brand Ted Baker will join Ocado as rumours swirl about a possible takeover bid. Rachel Osborne stepped down from her role as head of the British fashion brand earlier this month, with a number of other senior board members after Ted Baker was acquired by Authentic Brands for £211m [...]
FTSE 100: Ocado set to be chucked from the trolley in London index reshuffle May 30, 2023 Ocado is set to be rubbed off many investors’ shopping lists this week as it faces a relegation from the FTSE 100 following a troubled period of slowing sales and a tumbling share price.
FTSE 100 close: Tumbling pound boosts London index as Ocado slides June 28, 2023 London’s FTSE 100 sprang higher today, aided by the pound clocking a dreadful day. The capital’s premier index jumped 0.52 per cent to 7,500.50 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, leapt 1.98 per cent to 18,412.81 points. Early advances in the City [...]
Ocado closure of Hatfield fulfilment centre puts 2,300 jobs on the line April 25, 2023 Ocado, the upmarket digital grocery store, will close its oldest fulfilment centre in Hatfield placing 2,300 jobs at risk. The supermarket, which operates as a joint venture with M&S, said that the centre was currently responsible for 20 per cent of Ocado’s 400k order per week, however it is ceasing operations at the site due [...]
M&S looks to revamp Ocado Retail after chair warns there is ‘work to do’ July 10, 2023 M&S is looking to revamp its joint venture with Ocado as the high street stalwart grows frustrated with the firm’s poor performance, bringing the brands falling profits back to the forefront of investors’ minds. M&S chairman, Archie Norman, told investors at the firm’s AGM last week that there was “work to do” regarding the performance [...]
Ocado losses widen: Share price rises as retail arm shows signs of improvement July 18, 2023 Pre-tax losses at Ocado have widened to £289m in the first half of the year, as the grocery firm’s share price was up over 14 per cent this morning. The supermarket technology business said its retail arm – which is a joint venture with M&S – grew five per cent to £1.17bn as it returned [...]
Osborne-chaired Lingotto fund builds stake in Ocado amid Amazon takeover rumours June 26, 2023 The investment fund chaired by former chancellor George Osborne has built a up stake in retail tech firm Ocado, new company filings revealed today.