Morrisons’ bounce back shapes up with same-day delivery Amazon tie-up (but it’s bad news for Ocado’s share price) November 16, 2016 The dream team is very much in business. Yes, that's right: Amazon and Morrisons have developed their tie-up to launch the aptly named Morrisons at Amazon service. But it's bad news for Ocado: shares were down 9.4 per cent by the early afternoon. Ouch. From today, Amazon Prime customers in selected areas can order a full [...]
Lord Stuart Rose interview: Former M&S boss opens up on the ill-fated Stronger In campaign and his 10,000 bottles of wine November 9, 2016 Lord Rose of Monewden knows how to do things in style. In the space of a 45-year business career he managed to navigate his way through more boards, bids, bust-ups and blow-ups than seems possible in a single lifetime, collecting a knighthood, then a peerage and a comfortable fortune on the way. More to the [...]
What the analysts are saying about the M&S results: ‘Seismic change’ needed after ‘humiliating’ plans unveiled November 8, 2016 Retail experts have blasted Marks & Spencer's plans for a turnaround – even taking a swipe at the firm's recent collaboration with Alexa Chung – and warned that without "seismic change", the group risks continuing its "terminal decline" to its inevitable conclusion. Marks revealed a massive drop in profits this morning, and outlined plans to close [...]
Analysts welcome a full year of growth for Morrisons November 3, 2016 Morrisons' share price was climbing this morning after the retailer said that its like-for-like sales were up 1.6 per cent in the third quarter, marking a year of positive same-store sales. Halloween sales jumped 20 per cent in the period. The company's share price was up 1.2 per cent this morning as a result, and [...]
As Tesco shares jump after it reported another rise in sales, is the retailer out of the woods? October 5, 2016 Clive Black, head of research at Shore Capital, says Yes. If you go down to the woods today… well, you won’t find Tesco chief executive Dave Lewis. Two years on from a troubled and tortuous analyst meeting, with the business on its knees, the Tesco boss is reporting that the remedial measures introduced to guide the [...]
Sainsbury’s is opening a London fulfilment centre to stop Amazon gobbling up its customers September 21, 2016 Sainsbury's is responding to London's growing hunger for online groceries by opening a new fulfilment centre in the capital. The retailer is expecting its online orders in London to double by 2024, and will meet that demand with a new warehouse in Bromley-by-Bow that can fulfil 25,000 orders per week. In total, the fulfilment centre will [...]
Online retailer Hut Group set to announce Ideal acquisition September 18, 2016 Online retailer Hut Group is poised to announce the takeover of an American dieting and sports nutrition company. The digital retailer is expected to announce the deal for Ideal Shape in the coming days, Sky News reported. Read more: The Hut Group eyes acquisitions after securing £210m loan Hut Group reported group sales of £334m, [...]
Next and Morrisons: What a difference a year makes September 16, 2016 What a difference a year makes. This time in 2015, shares in clothing retailer Next were up after it reported a jump in sales in its first half. Meanwhile, Morrisons warned of a “long recovery” as it made plans to sell its underperforming M Local stores amid falling sales and profits. Yesterday those fortunes reversed: [...]
Morrisons reports improved sales and increased profits and says Brexit has had no negative effect September 15, 2016 Shares in Morrisons jumped almost five per cent as the market opened, after the supermarket reported an increase in sales during the 26 weeks to 31 July, and said it hasn't seen any ill effects from the Brexit vote. The figures Revenue dipped to £8.03bn from £8.06bn this time last year, however like-for-like sales in the first [...]
A shortage of land could kill off London’s e-commerce revolution September 13, 2016 Recent reports that Amazon is set to test drone deliveries in partnership with the UK government is just the latest salvo in the fiercely contested battle between the e-commerce giants that are transforming the way we shop. The move also demonstrates the challenges of a constantly evolving logistics sector. City A.M. readers are at the [...]