Ocado shares spike as grocer boosted by £750m M&S joint venture gain Retail Online grocer Ocado has reported significant growth in the first half of 2025, while stating its major goal is to turn cash-flow positive next year. Its share price spiked more than 13 per cent in early trades. Ocado told markets this morning that revenue rose 13.2 per cent to £674m, while earnings before interest, tax, depreciation [...]
Gymkhana: World famous Indian restaurant leans into ‘fakeaway’ boom Retail For years, the name “Gymkhana” has been synonymous with exquisite, two Michelin-starred Indian dining in London’s upscale Mayfair, a celebrity favourite, reportedly frequented by the likes of Ed Sheeran, Dua Lipa, and the Beckhams. Now, a pioneering venture, Gymkhana Fine Foods, is allowing home cooks to recreate that magic in their own kitchens. Launched in [...]
No jobs in 30 years? UK tech leaders push back on Musk’s AI claims Tech Elon Musk’s bleak prediction that “there’s not going to be any jobs for anyone” in 30 years has come under heavy fire from some of the UK’s leading AI figures at London Tech Week. Instead of sounding an alarm for mass unemployment, UK experts argued for transformation and a new focus on control over AI, [...]
UK retailers claw back losses as wave of selling turns to opportunistic buying April 7, 2025 Heavyweight UK retailers clawed back some of their losses on Monday afternoon as the morning’s sell-off turned to buying. The FTSE 350 general retail index had dropped by as much as four per cent in early trades, but later stabilised to minus 2.8 per cent. Even UK retailers with very little presence in the US, [...]
Ocado: CEO pay jumps despite heavy losses and flagging share price March 6, 2025 The chief executive of Ocado has seen his pay jump despite continuing heavy losses at the technology and grocery platform. Tim Steiner took home more than £2.6m for his company’s latest financial year, a rise from the £1.9m he was awarded in the prior 12 months. The increase was mainly driven by a rise in [...]
Supermarket sales rise, but Asda continues to struggle March 4, 2025 Sales at UK supermarkets rose above inflation in February as Brits looked for cost-effective ways to treat themselves. Take-home sales at the grocers rose by 3.6 per cent over the four weeks to 23 February, while prices rose 3.3 per cent, according to Kantar. However, the headline figure masked a gulf between the performance of [...]
Ocado: Shares slump as double-digit growth fails to offset losses February 27, 2025 Tech and grocery platform Ocado has reported another year of losses despite a strong performance in its online delivery arm. Its share price fell by more than 13 per cent in early trades. Overall revenue rose by 14.1 per cent to reach £3.1bn in the year ended December 1. Lucy Rumbold, equity research analyst at [...]
Former Asda and M&S boss Lord Rose: WFH is ‘not doing proper work’ January 20, 2025 The increase in home work has created a generation who are “not doing proper work,” according to the former boss of Asda and Marks & Spencer. Speaking to BBC Panorama, Lord Rose said more working from home was a part of the UK economy’s “general decline” and that productivity was suffering as a result. “We [...]
Ocado shares surge after online grocer reports record-breaking year January 14, 2025 Ocado Retail’s sales boomed in the weeks leading up to Christmas, vastly outperforming the broader market with double-digit revenue and customer growth. In a trading update issued today, the company, a 50:50 joint venture between Ocado and Marks and Spencer, reported revenue growth of 17.5 per cent in the 13 weeks to 1 December. Ocado [...]
Morrisons expands use of Ocado’s grocery-picking software in store November 28, 2024 Ocado has announced it will work more with Morrisons in-store and less via fulfilment centres as the latter company recalibrates the operations of its online grocery arm. Morrisons, which has been working with Ocado since 2013, will “gradually cease” deliveries from Ocado’s Erith fulfilment centre, in the south east Ocado said in a statement this [...]