Ocado shares fall after John Lewis pension fund sells out February 11, 2011 Retailer John Lewis’s pension trust has sold its stake of about 10 per cent in online grocer Ocado – sending its shares down 17 per cent. Ocado, whose shares have climbed sharply in recent weeks, said the sale would not affect its commercial relations with upmarket grocer Waitrose, a John Lewis unit. Ocado mainly sells [...]
Ocado losses narrow after shaky float February 1, 2011 ONLINE grocery delivery company Ocado yesterday said its losses had narrowed in 2010 – after it weathered the storm following a controversial stock market float. The internet retailer halved its pre-tax loss to £12.2m. Meanwhile it made pre-tax profit of £300,000 for the final quarter – the first profit it has recorded. Ocado chief executive [...]
Ocado posts first pre-tax profit February 1, 2011 Online grocer Ocado made its first pre-tax profit in its fourth quarter, ahead of expectations, and said it was continuing to see strong sales growth at the start of its new financial year. Ocado, whose shares have bounced back from a dismal first few months of trading, said on Tuesday it made a pre-tax loss [...]
Ocado moves towards profit January 30, 2011 Grocery delivery service Ocado is expected to report a significant reduction in its losses when it reports its first annual results as a listed company tomorrow. Annual pre-tax losses at the online retailer are predicted to be around £11.6m in the year to November 2010 – less than half of the £25.5m reported a year [...]
FTSE climbs up from sluggish start January 24, 2011 From a sluggish start, the FTSE climbed until almost back through the 6,000 barrier, before falling slightly to close up 47.6 points or 0.81 per cent at 5,943.85. Defensive stocks gave the index strength while the market shrugged off early fears about banks after Saturday’s speech by John Vickers, chair of the Independent Commission on [...]
Ocado sales increase but jury still out January 10, 2011 ONLINE grocer Ocado yesterday reported a 27 per cent sales rise in the four weeks to Christmas – but some analysts still questioned the company’s progress following a troubled float. The firm posted gross sales of £50.9m for the period, helped by more customers shopping online instead of going to supermarkets in freezing weather conditions. [...]
Ocado sales on track despite weather January 10, 2011 Online grocer Ocado reported a 26.7 per cent rise in December sales as the popularity of internet shopping and upmarket foods helped it to thrive despite disruption from severe winter weather. The loss-making group, whose shares have been on a roller-coaster ride since they floated in July, said the rise in December gross sales followed [...]
Ocado soars to fresh highs as it leaves IPO blues behind January 5, 2011 SHARES in Ocado, the online grocery retailer, rose to a new record yesterday, reaching a high of 212.4p after lunch before falling back to close at 200p, giving the firm a market capitalisation of £1.1bn. The 200p close is 5p up on the previous day when Ocado shares traded above their 180p July flotation price [...]
FTSE 100 rebounds as banks rally and miners pare losses January 5, 2011 BRITAIN’S top shares rallied yesterday after employment data from the US showed the economic recovery was picking up steam, which helped miners and oil stocks pare losses and banks rally. The FTSE 100 closed up 29.99 points, or 0.5 per cent, at 6,043.86, bouncing off a session low of 5,964.43. Miners pared losses and oil [...]
BEST OF THE BROKERS January 5, 2011 OCADO UBS has downgraded the online grocer to “neutral” from “buy” with an increased target price of 197p, following share price gains and an improvement in valuations among Ocado’s peers such as Amazon and Asos. It adds that the trading statement due on 10 January will shed light on the firm’s progress since floating. BETFAIR [...]