Nestlé: Nespresso and Kit-Kat maker hikes prices and sweetens sales growth April 25, 2023 Share price in Kit-Kat maker Nestlé were up as the food giant beat profit expectations while hiking the price of its goods. The Swedish packager, which owns brands such as Nespresso, Smarties Nesquik and Maggi stock cubes, reported a sales growth of 5.6 per cent to CHF23.5bn (£21.2bn) in the first leg of the year [...]
Ocado closure of Hatfield fulfilment centre puts 2,300 jobs on the line April 25, 2023 Ocado, the upmarket digital grocery store, will close its oldest fulfilment centre in Hatfield placing 2,300 jobs at risk. The supermarket, which operates as a joint venture with M&S, said that the centre was currently responsible for 20 per cent of Ocado’s 400k order per week, however it is ceasing operations at the site due [...]
No break for Brits as inflation pushes the cost of kitchen staples by 80 per cent April 18, 2023 Brits are yet to receive a break from soaring food prices as the price of cheddar cheese, sliced white bread and porridge oats are up to 80 per cent more expensive than a year ago. As inflation reached record highs due to the war in Ukraine, consumers were forced to fork out more for kitchen [...]
Asda introduces self driving delivery vans in AI first April 17, 2023 Asda is rolling out its largest autonomous delivery trial with customers in London set to receive their groceries via self driving cars. The UK’s third largest grocery store is launching the scheme in partnership with Wayve, a developer of artificial intelligence for self driving cars, and the pair will use Jaguar I-Pace electric cars for [...]
Your City guide to this year’s must have chocolate Easter eggs: From exploding candy to hot cross bun flavoured treats March 31, 2023 We’ve nibbled, munched and even crunched some of this year’s chocolate Easter egg offerings, and we even tried a donut-egg; you’ll have to read on to find out how that fared. Here’s our review of the best and the worst Easter eggs you can buy this year; we’ve included City-based retailers as well as supermarket [...]
FTSE 100 live: Beazley and Ocado edge London higher on final day of first quarter March 31, 2023 The FTSE 100 nudged higher on the final morning of the first quarter on the back of an early rise for insurance giant Beazley and retail tech firm Ocado. London’s flagship index rose around 0.2 per cent in early trading before settling to be around up around 0.16 per cent at 9:43am. Lloyds of London [...]
Banks, inflation, recession, gold AND Ocado: Five lessons the markets taught us this week March 31, 2023 It’s spring. The days are longer, the sun is shining, and fears about the imminent implosion of the global financial system are fading, for now anyway. Markets appeared to calm down after several weeks of banking-related aftershocks and both the FTSE 100 and FTSE 250 were on course to end the week on a positive [...]
FTSE 100 live: Ocado steams ahead again as analysts warn banks have long road to recovery March 30, 2023 London’s FTSE 100 scaled higher today lifted by middle class favourite and online supermarket Ocado extending its strong rally this week. The capital’s premier index climbed 0.32 per cent to 7,588.65 points, while the domestically-focused mid-cap FTSE 250 index, which is more in tune with the health of the UK economy, bumped 0.73 per cent [...]
FTSE 100 close: Ocado delivers bumper gains while Next zips lower March 29, 2023 London’s FTSE 100 was hoisted higher by the UK’s largest retailers surging today, except high street bellwether Next, which stumbled badly. The capital’s premier index bumped more than one per cent to 7,564.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged 1.28 per [...]
Can online favourite Ocado make a comeback, or will its share price sink lower? March 28, 2023 Ocado’s share price fell nearly six per cent in afternoon trade as the “magic” of the online retailer’s venture with Marks and Spencer did little to buoy the confidence of investors In its start of year trading update Ocado revealed that retail revenue grew slightly by 3.4 per cent, although a 7.5 per cent decrease [...]