Tesco director Simon Belsham to become chief executive of online marketplace Notonthehighstreet March 20, 2015 Tesco's online managing director Simon Belsham is joining emerging etailer Notonthehighstreet.com as its new chief executive. Belsham, who has been at Tesco.com for just over two years, will join the online marketplace for small businesses in May 2015. Belsham has a strong background of online retail. Prior to his current role, he worked at [...]
Online grocery delivery firm Ocado follows first profit with a bigger share of the market March 10, 2015 OCADO yesterday reported an acceleration in sales growth of 15.2 per cent to £252m in the first quarter of its financial year. The online supermarket exceeded analysts’ estimates and shows a gain in the online grocery and overall market shares. Revenue rose by 19.2 per cent to £271m in the 12 weeks to 22 February, [...]
Ocado sales jump 19.2 per cent as company says it expects to keep growing ahead of the curve March 10, 2015 The figures Ocado’s group sales jumped 19.2 per cent in the 12 weeks to 22 February, rising to £271.1m, from £227.5m during the same period last year. Meanwhile, retail sales were up a similarly impressive 15.2 per cent to £252.0m, two months after the company reported its first profit. Ocado said that on 22 February it had [...]
Shoppers likely to be pausing after 2014 spree – London Report March 9, 2015 BRITISH Retail Consortium (BRC) retail sales figures for February are likely to show shoppers took a pause after a spending spree in the fourth quarter of last year. The figures, due out overnight tonight, are forecast to follow similar data from the Confederation of British Industry, which showed softer spending in February. The CBI data [...]
Morrisons boss goes down for insider trading March 3, 2015 THE FORMER group treasurer and head of tax at Morrisons has been sentenced to one year in prison for insider trading. The case, which brought by the Financial Conduct Authority (FCA), charged Paul Coyle with two counts of insider trading. Coyle was suspended from Morrisons back in January. Coyle pleaded guilty to both counts and [...]
Morrisons ex-treasurer and head of tax Paul Coyle sentenced to prison for insider trading March 3, 2015 The former group treasurer and head of tax at Morrisons has been sentenced to one year in prison for insider trading. The case, which brought by the Financial Conduct Authority (FCA), charged Paul Coyle with two counts of insider trading. Coyle was suspended from Morrisons back in January. Coyle pleaded guilty to both counts and [...]
Ocado delivers first profit of £7.5m but cuts bonuses by 40 per cent February 12, 2015 Grocery delivery service Ocado reported its first profit yesterday, of £7.5m for 2014, up from the £5.1m loss in 2013, although top executives had their bonuses slashed by around 40 per cent. Executive directors only reached half their targets, resulting in total bonuses paid dropping nearly £800,000 compared to 2013 totals. Group sales went up [...]
Morrisons, Tesco, Ocado and Marks & Spencer’s share prices soar after UK food sector shows signs of growth February 10, 2015 Supermarkets led the FTSE 100 higher this afternoon, after figures revealed the grocery sector was in growth once again. Morrisons' share price had recorded the biggest gains at pixel time, rising 5.5 per cent. This was on the back of Kantar figures out this morning, showing its sales had fallen 0.4 per cent, the [...]
HSBC scandal takes the spark out of the FTSE – London Report February 9, 2015 THE UK’s top share index edged lower yesterday, hurt by a fall in HSBC after the bank admitted tax failings at its Swiss unit and by softer utility stocks. The blue-chip FTSE 100 index was down 0.2 per cent, or 16.29 points, at 6,837.15 points by the close, with United Utilities, National Grid and Severn Trent [...]
Ocado says it is at forefront of food revolution February 3, 2015 Ocado chief executive Tim Steiner said the “online grocery revolution” taking place will only help to further distance his firm from rivals and stay ahead of the market, as it posted its first ever full-year profit. The online grocer made an adjusted pre-tax profit of £10.1m in the year to 30 November compared with £3.8m [...]