Ocado dismisses concerns over Waitrose as sales beat forecasts September 11, 2014 SHARES in Ocado edged two per cent higher yesterday, after the online grocer surprised the City with a better-than-expected rise in sales. Ocado, which prides itself on its high-tech warehouses, said sales rose 15.5 per cent to £218.5m in the 12 weeks to 10 August, up from 13.4 per cent in the second quarter. Chief [...]
Ocado share price jumps 8.5 per cent as Morrisons tie-up pushes sales up September 11, 2014 Ocado shares opened 8.5 per cent higher this morning after it reported a 22.5 per cent rise in gross sales for the 12 weeks to 10 August 2014. The online grocer enjoyed £231.9m worth of group sales, compared to £189.2m during the same period last year. Average orders per week rose 17.4 per cent from [...]
Ocado share price slumps as City analyst slashes forecast August 28, 2014 Shares in Ocado tumbled 19 per cent yesterday after equities broker Redburn Partners took a knife to its forecasts and claimed the online grocer’s technology was less valuable than previously thought. Redburn’s retail analyst James Tracey downgraded the company from “buy” to “sell” and cut its 2015 earnings forecast by 57 per cent to £17.1m [...]
Ocado delivers a profit but sales growth slowing July 1, 2014 Shares in Ocado slid 4.3 per cent yesterday despite the online grocer moving into the black in the first half, paving the way for its first annual profit in its 13-year history. The company said pre-tax profits totalled £7.5m for the 24 weeks to 18 May, following a £3.8m loss last year, thanks [...]
As Ocado posts a half-year profit, will the business now go from strength to strength? July 1, 2014 Jonathan Jackson, a partner and head of equities at Killik & Co, says Yes. Ocado offers a unique way to play the expected strong growth in the UK online grocery market. The group offers investors the potential to benefit from its industry-leading intellectual property, built up over 13 years of investment in technology, to more [...]
Ocado share price dives on half-year results July 1, 2014 Online grocer Ocado has seen its share price drop 4.7 per cent after releasing half-year results for the 24 weeks ended 18 May. The fall comes as the company announced it was on track for its first ever annual pre-tax profit. The company swung back into the black with pre-tax profits reaching £7.5m compared to [...]
Ocado earnings jump 79pc after Morrisons tie-up July 1, 2014 Online grocer Ocado has reported a rise in gross sales of 15.6 per cent for the 24 weeks ended 18 May, broadly in line with what had been expected. Analysts at Deutsche Bank had forecast that Ocado would report that gross retail sales in the second quarter grew by 15.3 per cent, compared to 18 [...]
Shareholders revolt over pay at Reckitt and Ocado May 7, 2014 OCADO and Reckitt Benckiser have become the latest companies to suffer an investor backlash over pay for the most senior staff. About 20 per cent of investors in the online grocer voted against the remuneration report while 13 per cent opposed Ocado’s pay policy. A person familiar with the situation said Ocado’s board had consulted [...]
Ocado’s growth slows but first profit is in sight March 12, 2014 ONLINE grocer Ocado yesterday said it was on course to report its first ever annual profit this year after strong first quarter sales. Retail sales rose 18 per cent to £218m in the 12 weeks to 23 February. However, this was below what analysts were expecting and a slowdown on the 20.1 per cent growth [...]
Ocado sales soar as Morrisons site gathers pace March 12, 2014 Online grocer Ocado has reported a jump in retail sales of 18 per cent to £218m, for the 12 weeks to 23 February. Average orders per week rocketed 18 per cent to over 155,000. Tim Steiner, chief executive officer of Ocado, commented: We are pleased with the continued growth in our business. We remain committed [...]