Ocado deploys lorry drivers to help with national shortage as more names ask government for help July 7, 2021 Ocado has had to deploy some of its own lorry drivers to help its suppliers get stock to its warehouses amid a national shortage of lorry drivers. CEO Tim Steiner told trade magazine The Grocer that Ocado itself was handling the ongoing driver shortage well, but that some of its suppliers were struggling. “We are [...]
Ocado partners with major Spanish grocer as revenue leaps July 6, 2021 Revenue at supermarket Ocado is up significantly on the same period last year, as the online model proved resilient in the face of Covid-19 restrictions. Revenue for the business stood at £1.3bn for the first half of 2021, up 24.4 per cent on H1 2020. Group EBITDA more than tripled to £61m, despite increased [...]
Easing of lockdown restrictions expected to slow growth at online retailer Ocado July 2, 2021 The easing of lockdown restrictions is expected to have slowed down soaring retail sales growth at Ocado as the online retailer unveils it latest trading performance next week. It was among UK grocery firms to see sales spark amid strong demand for home deliveries after the Government enforced lockdown restrictions and forced hospitality operators to [...]
Ocado settles espionage spat with its founder Jonathan Faiman after ‘significant payment’ June 25, 2021 Ocado said today it has settled a legal dispute with its co-founder and a former employee after accusations they secured confidential documents from the online retail firm while they set up a competitor. Ocado Group said Jonathan Faiman, who co-founded the business and exited in 2008, and Jon Hillary, one of its longest-serving employees before [...]
E-commerce grocery sales plateau boosts Aldi’s market share to peak levels June 22, 2021 The growth of e-commerce sales in the grocery market has plateaued, giving the likes of Aldi an opportunity to grow its market share after not making use of online sales in the past year. The percentage of e-commerce sales in the grocery market remained flat at 13.4 per cent in the four weeks to 13 [...]
UK supermarket shares rocket with Morrisons up 30 per cent after takeover bid June 21, 2021 Morrisons’ share price leapt 30 per cent just minutes after the market open this morning, in wake of news a private equity firm approached the supermarket with a £5.5bn takeover bid. In fact, shares in all major UK’s biggest supermarkets soared on this morning after Morrisons rejected a takeover bid from a US private equity [...]
Anthony Joshua becomes shareholder in CBD firm Love Hemp June 21, 2021 British boxer Anthony Joshua has become a shareholder in Love Hemp, the UK’s leading CBD and hemp products supplier. Joshua has signed a three-year endorsement deal from next month when he will take up the role of international ambassador for the brand. Love Hemp will also collaborate with the two-time heavyweight champion on a licenced [...]
Will rapid delivery apps maintain post-pandemic momentum? June 12, 2021 Since the pandemic began, a slurry of quick delivery apps have emerged with the same promise to deliver food within 30 minutes, while the pandemic made supermarkets an even more costly chore. The pandemic pushed the pedal on rapid delivery apps like Weezy, Dija, Getir and Gorillas – a sector where a huge amount of [...]
Wall Street opens higher while FTSE 100 stays in the green June 10, 2021 Wall Street’s main indexes rose today as investors shrugged off a surge in consumer prices that raised concerns of early policy tightening by the Fed. The Dow Jones Industrial Average was up 0.6 per cent, while the S&P 500 advanced 0.4 per cent at the open. Meanwhile, the tech-heavy Nasdaq gained 0.2 per cent. Wall [...]
Sales at Pets at Home pass £1.4bn as Brits pick up furry companions May 27, 2021 Revenue at Pets at Home jumped nearly eight per cent in the last year, as coronavirus-led lockdowns persuaded more households to get a pet. Revenue at the pet care retailer jumped 7.9 per cent to £1.14bn in the group’s 2021 financial year. Retail revenue reached £1bn for the first time despite Covid-19 restrictions, and revenue [...]