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Ocado has found itself in the spotlight for a host of reasons this year including a rumoured takeover from Amazon and a tiff with M&S.
The Bank of England governor Andrew Bailey has warned firms against rising prices to offset inflation. He told the BBC, “please understand if we get inflation embedded, interest rates will have to go up further and higher inflation really benefits nobody.” The latest UK inflation rate for February surprised economists by picking up again to [...]
Ocado said it had helped by some “M&S magic” as the grocery chain’s joint venture with the high street stalwart boosted sales by 3.6 per cent in its first quarter. Shares in the online grocer were last trading down 1.97 per cent or 8.9p at 443.20p. The up market online grocer, which posted a pre-tax [...]
Moneysupermarket.com has swooped in for the Chief Financial Officer at Ocado, who will take up the same role on its board. Niall McBride will join the price comparison site subject to regulatory approval, as he leaves Ocado after having joined in 2020 during the pandemic. The former Rothschild & Co and PwC accountant will likely [...]
Mark Kleinman is City editor at Sky News Politics could push ministers to punish banks This is a cost of living crisis, not a banking crisis: if I had a fiver for every time a senior bank executive had said that to me over the last 18 months, I’d never need another mortgage of my [...]
Retail tech group Ocado is looking to settle jitters over sluggish demand from shoppers this week as it updates the City after following a bruising nine months.
Ocado’s share price grew just under one per cent on Wednesday following news it would slash prices on 200 more goods to entice customers. In recent months the tech-driven supermarket, which is owned as part of a joint venture with M&S, has been distancing itself from its reputation as an upmarket grocer with the brand [...]
The chief of Ocado’s technology solutions division will retire in September, leaving a new man at the top of the occasionally embattled firm’s most vital division. Luke Jensen will quit the role of executive director and CEO of Ocado Solutions, with John Martin, currently a non-executive director, made the new chief executive. This comes as [...]
Shares in Ocado sank on Tuesday after HSBC analysts downgraded the grocery delivery firm from a Hold to a Reduce rating. HSCB’s notes caused shares in the middle-class favourite to drop by more than eight per cent after Ocado warned last week that soaring inflation will weigh on its profitability in Q4. The firm warned [...]
London’s FTSE 100 today was dragged down by investors souring on middle-class favourite and online supermarket Ocado. The capital’s premier index fell 0.21 per cent to 7,369.44 points, while the domestically-focused mid-cap FTSE 250 index dropped 0.85 per cent to 19,455.88 points. Ocado’s shares plummeted to the bottom of the FTSE 100 today, taking the [...]
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