Starbucks’ rival Luckin Coffee sees share price double on debut May 17, 2019 China's Luckin Coffee shares opened at $25 on Friday morning despite recent poor IPO performances. It was 47 per cent more than the issue price of $17 as the Starbuck's rival raised $561m to give it a pre-trading valuation of around $4bn. Read more: Thomas Cook shares crash 40 per cent as investors urged to sell [...]
Ocado set to cut 400 jobs as it looks to rebuild Andover warehouse after fire May 17, 2019 Ocado has said it will slash as many as 400 jobs after a huge fire destroyed its distribution centre in Andover. The delivery firm’s flagship automated warehouse in Hampshire was razed to the ground in February after a three-day inferno. Read more: Waitrose outlines £1bn online shopping plan Ocado initially tried to find a suitable [...]
Waitrose sets out £1bn online shopping plan as it prepares for life without Ocado May 16, 2019 Waitrose has revealed a £1bn plan to bolster its online operations today as it prepares for life without Ocado. The upmarket grocer has signed a deal with Today Development Partners (TDP) in a bid to treble the size of its online business over the next three years, as its 20-year relationship with delivery giant Ocado nears its [...]
Morrisons fails to convince despite Ocado deal May 16, 2019 By Graeme Evans from interactive investor. It talks the talk, and a 6 per cent dividend yield is attractive, but can this £50 billion grocer walk the walk? Morrisons (LSE:MRW) offered more evidence of its "ever-improving shape" after a robust trading update and intriguing deal to re-write its online partnership with Ocado. While the supermarket's shares [...]
Morrisons records 14th quarter of growth despite hit from political uncertainty May 9, 2019 Morrisons took a hit from British political uncertainty in the first quarter of the financial year, it revealed today, as its sales growth slowed to put it behind major rival Tesco. Excluding fuel, like-for-like sales grew 2.3 per cent in the quarter, Morrisons said, a slowdown from 3.6 per cent in the first three months of [...]
Ocado chips in to £7m round for UK robotics startup Karakuri May 9, 2019 Ocado has led a £7m seed round for UK robotics firm Karakuri, its first investment in a tech startup. Other backers in the round included Hoxton Ventures, Firstminute Capital and Taylor Brothers. The online supermarket chain will use Karakuri's technology to expand its grocery offering after a fire devastated one of its automated warehouses. It [...]
Morrisons in City spotlight for first-quarter results May 6, 2019 Investors will be hoping Morrisons can replicate recently-improved trading results from its supermarket rivals later this week when it looks set to extend a long spell of like-for-like sales growth. Read more: Morrisons granted permission for Supreme Court appeal over data ruling Following a largely better-than-expected financial performance from both Sainsbury’s and Tesco in recent [...]
Sainsbury’s slips behind supermarket rivals after Asda merger blocked April 30, 2019 Sainsbury's sales fell behind those of rivals in the three months to the end of April, according to data released just a week after the supermarket's £7.3bn Asda merger was blocked. Sainsbury’s suffered a 1.2 per cent fall in sales compared to the same period last year, data group Kantar's statistics showed, while Aldi and Lidl [...]
Sainsbury’s: Buyers bet that shares have seen the low April 26, 2019 By Graeme Evans from interactive investor. Trading within a whisker of a record low, a lot of bad news is already written into the share price. Yesterday’s humiliation of Sainsbury (J) (LSE:SBRY) and its boss Mike Coupe has not stopped investors from piling into the supermarket giant’s shares in the belief the chain can bounce [...]
Best 25 stocks in the last tax year April 15, 2019 By Graeme Evans from interactive investor. The FTSE 100 outperformed mid-caps last tax year, but the top FTSE 350 performers might surprise you. Take a look at the financial year ended on the 5th April, with the 25 top performing stocks in the FTSE 350 all producing gains of 40 per cent or more over the [...]