Why Ocado isn’t delivering as the markets hoped September 19, 2011 WHEN Ocado came to the market in July 2010, to some (its investors) it was a great opportunity to buy into a growth online market with a unique business model and amazing technology. The company had been going for ten years and was just about to break through the tipping point, which would lead profits [...]
Pressure piled back on banks amid Eurozone gloom September 19, 2011 World markets slumped today as the Eurozone sovereign debt crisis appeared to be deepening as German Chancellor Angela Merkel suffered a regional election defeat which undermined her power. With the world looking to Germany to help steer the Eurozone out of stormy economic waters the confidence of investors was sapped. Meanwhile a series of meetings [...]
Ocado sales growth slows in third quarter September 19, 2011 British online grocer Ocado saw a slowdown in sales growth in its fiscal third quarter and said full-year profit margins were likely to rise a less than expected as it invests in improving customer service. Ocado, which mostly sells the products of upmarket grocer Waitrose, said on Monday gross sales rose 16.9 per cent to [...]
Debenhams eyeing web sales growth September 18, 2011 DEBENHAMS will issue its first results under new boss Michael Sharp tomorrow with an added emphasis expected to be placed on online growth. The figures for the fourth quarter come as UK retailers face headwinds as household budgets are squeezed. Analysts are expecting the chain to focus on its international growth – particularly at its [...]
Mothercare joins shorted UK retailers September 1, 2011 INVESTORS stayed sceptical on the UK’s mid-market retailers in August, new figures from Data Explorers show. Mothercare and Ocado both joined the list of the most shorted stocks on the FTSE All-Share as hedge funds bet their shares would fall. Publishing group Yell, Argos owner Home Retail and Dixons were among the most shorted for [...]
Ocado founder wife cuts stake August 17, 2011 The wife of one of the Ocado founders slashed her stake in the firm just before it crashed to a record share-price low. Kira Faiman, wife of Jonathan Faiman, sold at least £7m worth of stock on 9 August through Tempest Capital. The firm has seen its stock tumble to below its flotation price as [...]
Best to keep hold of those hard hats August 11, 2011 Hang on to those hard hats for a little bit longer. To the relief of all concerned in the financial markets, yesterday saw stocks rally in most parts of the world. But these are anything but safe times. In Europe rumours of some form of ban on short-selling, confirmed late last night, lifted stocks. Such [...]
Ocado growth forecasts slashed August 11, 2011 Goldman Sachs has cut its sales and earnings forecasts for online grocery group Ocado after the firm said its lack of warehouse capacity was continuing to hinder growth. Goldman, one of Ocado’s two brokers, revised its 2011 sales forecast down two per cent, and cut its 2012 forecasts by five per cent. It said forecast [...]
Ocado adds new Oxford base August 4, 2011 Online retailer Ocado is to open a new regional depot near Oxford to tackle capacity problems at the online grocer. Due to open in November this year, the 43,000 sq ft warehouse will be able to process 10,000 orders a week. The new site will take pressure off existing sites in Weybridge and Coventry, as [...]
BEST OF THE BROKERS July 6, 2011 ASSOCIATED BRITISH FOODS Deutsche Bank rates the food-to-fashion conglomerate as a “hold” and raises its target price from 950p to 1,050p, seeing extremely favourable dynamics in European sugar as likely to keep prices high and generate a major windfall for the group. The broker upgrades its 2011-12 earnings per share forecast by £70m or around [...]