Lockdown leaders: Aldi and M&S voted UK’s top in-store supermarkets February 22, 2021 Lockdown leaders: Aldi and M&S voted UK’s top in-store supermarkets
New Ocado finance chief to take helm next month February 15, 2021 British online grocer Ocado said on Monday that its new chief financial officer Stephen Daintith will start his role on 22 March. Ocado had announced in August that Daintith, the current finance chief of Rolls-Royce, would be joining the group. Daintith has previously held senior roles at Daily Mail and General Trust, Dow Jones and [...]
FTSE 100 closes flat while Wall Street rally loses steam February 9, 2021 The FTSE 100 closed flat on Tuesday afternoon while Wall Street retreated on the back off a record session yesterday. London’s blue-chip index closed 0.12 per cent higher as sterling rose to a near three-month high, largely because the dollar floundered as investors eyed a large stimulus package on the horizon. The FTSE 250 closed [...]
Ocado sales jump in pandemic but investment in international business slows earnings growth February 9, 2021 Online supermarket Ocado reported a jump in revenue due to a surge in demand for home food delivery services in the pandemic, but said investment in its international technology business offset growth. Group revenue increased 32.7 per cent to £2.33bn, up from £1.76bn last year, driven by 35.3 per cent growth in its retail revenue [...]
The Week Ahead: Look out for GDP data, Ocado, AstraZ, Twitter and Ted Baker February 8, 2021 Start your week informed: here are the announcements and results to look out for this week. UK GDP: A double dip recession is looming After a fairly decent third quarter, and an expansion of 16 per cent, the UK economy has had a much more troubled fourth quarter, with the likelihood that we may well [...]
Former Tesco chief Dave Lewis amongst New Year’s Honours December 31, 2020 Former Tesco boss Dave Lewis has been knighted in the New Year’s Honours List, alongside a number of business figures given gongs. Ocado boss Melanie Smith receives a CBE in recognition of her firm’s upscaling during the lockdown pandemic, and Co-op retail chief Joanne Whitfield receives the same honour. Read more: Retail wonks expect a [...]
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 [...]