Ocado falls to £215m loss after Andover warehouse fire February 11, 2020 Online supermarket Ocado fell to a £214.5m loss last year, which the company blamed on a huge fire which burned down one of its warehouses in Andover last February. The figures Group revenue rose 9.9 per cent in the year, up from £1.6bn in 2018 to £1.8bn this year. This was largely driven by 10.3 [...]
Ocado retains crown as Britain’s fastest-growing supermarket February 4, 2020 Ocado has retained its position as Britain’s fastest growing supermarket, with the online grocer achieving its quickest growth in the North of England. Ocado’s overall sales grew 11.2 per cent year-on-year during the quarter, with its market share rising 0.2 percentage points, according to data from Kantar. While over half of the grocer’s sales come [...]
Ocado joint venture with Marks & Spencer ‘working well’ December 12, 2019 Ocado has said its joint venture with Marks & Spencer is “working well,” as the retail delivery giant said revenue growth slowed slightly in its latest quarter. The firm saw growth in weekly orders, but stable average order size for the 13 weeks to 1 December. Read more: Ocado sales growth accelerates after Andover fire [...]
Ocado offers £500m in bonds after Aeon warehouse deal December 2, 2019 Online grocer Ocado today announced a £500m bond issue as it seeks cash to fund tech arm Ocado Solutions’ commitments. The company said that the guaranteed senior unsecured convertible bonds, due 2025, are expected to carry a coupon of between 0.75 per cent and 1.25 per cent a year. Read more: Ocado shares soar on [...]
Ocado shares soar on Japanese robot warehouse deal with Aeon November 29, 2019 Shares in online retailer Ocado jumped more than 11 per cent today after it announced a deal to help Japanese retailer Aeon launch a new online business. Ocado uses robot technology in its customer fulfilment centres (CFCs) to automate many processes. Read more: Ocado to build sixth warehouse as online grocer accelerates growth It said [...]
DEBATE: Will the M&S venture with Ocado turn around its fortunes? November 7, 2019 Will Marks & Spencer’s joint venture with Ocado turn around the struggling retailer’s fortunes? YES, says Adam Vettese, investment analyst at multi-asset investment platform eToro When you think of Marks & Spencer, you think of food. And not just any food, but top-quality food. In fact, food is so important to M&S that it now [...]
Ocado sales growth accelerates after Andover fire recovery September 17, 2019 Online supermarket Ocado reported accelerating growth in the third quarter after it secured an additional warehouse following a fire at the firm’s Andover site. Retail revenue increased 11.4 per cent to £386.3m in the 13 weeks to 1 September, the company reported in a trading update this morning. Read more: Firefighters put out blaze at [...]
Firefighters put out blaze at another Ocado warehouse August 22, 2019 Firefighters were called to put out a small fire at an Ocado warehouse last night, just months after a fire at one of its flagship sites caused nearly £100m in damage. A waste packaging container caught fire, the company said in a statement this morning. Read more: Losses deepen as Ocado reveals cost of Andover [...]
Ocado reveals fire-fighting robot after robot factory blaze August 8, 2019 Online supermarket Ocado has filed a patent for a fire-fighting robot as the grocer seeks to improve fire safety at its distribution hubs. The design will allow the device to work within the grid system at the firm’s robotics distribution centres and will include a spraying mechanism to put out fires. Read more: Ocado bags [...]
Ocado bags sales jump amid decline in supermarket sector July 23, 2019 Ocado has posted a double-digit rise in sales over the last quarter as it defied an overall decline in the supermarket sector. The online retailer boosted its sales by 11.9 per cent in the 12 weeks to 14 July, stealing a larger chunk of the competitive grocery market. Read more: Sainsbury’s sales slip in ‘tough’ [...]