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Ocado Group

  • Ocado lifts full-year profit forecast following home delivery boom during pandemic

    December 10, 2020

    Ocado has raised its full-year profit forecast after the online supermarket saw grocery sales boom during England’s second national lockdown. Revenue at Ocado Retail, the company’s joint venture with Marks & Spencer, surged 35 per cent in the three months to 29 November to almost £580m. The group said full-year earnings before interest, tax, depreciation [...]

  • Ocado to make $300m in acquisitions as digital grocer bumps forecasts

    November 2, 2020

    Digital grocer Ocado has announced two acquisitions worth nearly $300m (£232m) and bumped up its full year earnings forecast, it announced this morning. The retail darling said that it had continued to see strong sales growth during the third quarter as people stuck to digital shopping amid to the coronavirus pandemic. Shares in Ocado rose [...]

  • Ocado’s depot plans halted by North London residents

    October 15, 2020

    Ocado has lost the right to build a new delivery hub in north London after campaigners successfully lobbied the council to halt plans. Islington Council has withdrawn the site’s certificate of lawfulness to open the distribution centre next to Yerbury school, accusing Ocado’s landlords, Telereal, of providing “false and misleading evidence” and “withholding material information” [...]

  • Ocado sales surge on new M&S deal amid online shopping shift

    October 13, 2020

    Ocado added thousands of new customers following the launch of its partnership with Marks & Spencer amid a sustained rise in the number of consumers choosing to shop online.  In the 12 weeks to 4 October, Ocado increased sales by 41.9 per cent as the ecommerce retailer was buoyed by its new deal with M&S [...]

  • Ocado sued by Norwegian tech firm over alleged patent infringement

    October 1, 2020

    Shares in online supermarket Ocado dipped this afternoon after Norwegian tech firm Autostore announced it is suing the firm for alleged patent infringement. Ocado’s share price fell more than five per cent after Autostore said it had filed lawsuits in the UK and the US to prevent the FTSE 100 firm using retail storage and [...]

  • Waitrose launches Deliveroo trial as Ocado partnership ends

    August 28, 2020

    Waitrose has launched a partnership with Deliveroo as its deal with online supermarket Ocado comes to an end.  The grocer said that more than 500 products will be available to order through Deliveroo as part of an initial 12 week trial.  Customers will be able to order from stores in Bracknell and Clifton from Tuesday, [...]

  • Ocado finance chief steps down due to ‘family circumstances’

    August 27, 2020

    Ocado’s finance chief will step down after eight years with the online supermarket, citing family circumstances as the reason for his departure. Duncan Tatton-Brown, who was appointed as Ocado’s chief financial officer in 2012, will leave the role in November, but will continue as a non-executive director. Tatton-Brown said family circumstances meant that it is [...]

  • Ocado lists M&S products ahead of delivery partnership launch

    August 5, 2020

    Marks & Spencer has begun listing products on the Ocado website ahead of their delivery partnership, which is scheduled to begin next month.  The supermarket has added more than 750 new products, which will be available to buy through the Ocado website from 1 September.  However M&S warned customers that it may not be possible [...]

  • Ocado shares slide on plans to raise £1bn amid coronavirus online boom

    June 11, 2020

    Ocado shares fell this morning after the announcement that it plans to raise £1bn to help it capitalise on the online grocery market boom triggered by the coronavirus crisis. The British online supermarket and technology group said yesterday that it would raise about £657m through an equity placing and retail offer, and about £350m through [...]

  • Ocado investor Royal London to oppose executive pay report

    May 5, 2020

    Ocado investor Royal London is preparing to vote against the online supermarket’s executive pay report at its annual meeting tomorrow, branding boss Tim Steiner’s £58.7m payout “excessive”.  Steiner’s remuneration package included a £54.1m Growth Incentive Plan award, linked to the company’s share price growth between 2014 and 2019.  The scheme paid out £87.5m to Ocado [...]

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