Marks & Spencer and Ocado confirm talks over joint retail venture February 26, 2019 Marks & Spencer and Ocado have confirmed they are “in discussions” around a £1.8bn joint venture. Read more: Ocado to develop 20 new warehouses in first stage of US deal with Kroger The tie-up would see M&S pay Ocado between £800m and £900m for a 50 per cent stake in the food delivery service, according [...]
Ocado boss Tim Steiner refuses to comment on M&S tie-up reports February 5, 2019 Ocado chief executive Tim Steiner today refused to be drawn on reports of a potential tie-up with Marks & Spencer after reporting a revenue boost in the firm’s full-year results. “We’re in the business of talking to retailers; we’re constantly talking to different retailers all around the world about opportunities we may have with them,” Steiner [...]
Ocado’s revenue nears £1.6bn but losses widen February 5, 2019 Online food retailer Ocado announced 13 per cent revenue growth to nearly £1.6bn today, but losses after tax increased more than fourfold to nearly £45m. The company has seen its share price more than double over the last year, with news late last month that it was in talks for a partnership with Marks & [...]
Ocado investors set to quiz boss Tim Steiner over M&S food delivery deal February 3, 2019 Ocado boss Tim Steiner will be in the spotlight this week as he delivers the firm’s annual results amid reports of a possible partnership with Marks & Spencer. The two companies are said to be in talks over a food delivery partnership that would see the retailer use Ocado’s warehouses and delivery lorries. Read more: Ocado [...]
What are the UK’s most shorted stocks? January 29, 2019 Hedge funds made millions from short-selling Carillion shares after the construction firm collapsed a year ago. That’s hardly a surprise, but what’s telling is that many short-sellers were predicting its failure even before the company issued its first profit warning back in July 2017. Short-sellers borrow shares from other investors, typically large institutions like pension [...]
It’s the end of Veganuary, but food retailers need to support vegans all year round and not treat them like just another trend January 28, 2019 January is often a month when we try new things, and attempt to abstain from old habits. It started with new year’s resolutions. Then people started to try “Dry January”, forgoing alcohol for the whole month to make up for overindulging at Christmas. The concept has evolved, and now we have “Veganuary”, where people challenge [...]
Ocado and Marks & Spencer see shares rise on reports of food delivery partnership January 28, 2019 Shares in Marks & Spencer and Ocado were up this morning following reports the firms are in talks over a possible food delivery partnership. Ocado and Marks & Spencer saw their shares rise five per cent and one per cent respectively in early trading after it emerged the retailer could sign a deal to use [...]
Take-up of London office space rises as 2018 ends with a ‘bang’ January 21, 2019 Take-up of office space in London soared in the final quarter of 2018, rounding off a year of bumper demand for the capital’s commercial property market. New figures from CBRE show that take-up in Central London for the fourth quarter of 2018 was 3.9m square feet (sq ft), marking a quarterly increase of 13 per [...]
Marks & Spencer launches plastic packaging-free fruit and vegetable trial to try and cut plastic waste January 16, 2019 Marks & Spencer launched a trial today of plastic packaging-free fruit and vegetables at its Tolworth store as it moves to cut the amount of plastic it uses. The retailer said it had introduced trained greengrocers to advise customers on the over 90 lines of loose fruit and vegetables it was selling from two aisles. [...]
M&S reveals next 17 stores in firing line for closure as hundreds of jobs face the chop January 15, 2019 Marks & Spencer revealed the identity of the latest stores that are earmarked for closure today, as a swathe of sites face the firing line amid a downturn for the beleaguered retailer. As many as 1,000 people could face losing their jobs as part of the latest stage in the company's turnaround plan that will [...]