Ocado settles espionage spat with its founder Jonathan Faiman after ‘significant payment’ June 25, 2021 Ocado said today it has settled a legal dispute with its co-founder and a former employee after accusations they secured confidential documents from the online retail firm while they set up a competitor. Ocado Group said Jonathan Faiman, who co-founded the business and exited in 2008, and Jon Hillary, one of its longest-serving employees before [...]
Marks and Spencer shares surge to the top of the FTSE 100 as it smashes analyst expectations May 22, 2024 Marks and Spencer has beaten analysts' expectations, posting a 58 per cent jump in profit before tax for the full year, as chief Stuart Machin reaps the benefits of the high street darling's turnaround plans.
Ocado deploys lorry drivers to help with national shortage as more names ask government for help July 7, 2021 Ocado has had to deploy some of its own lorry drivers to help its suppliers get stock to its warehouses amid a national shortage of lorry drivers. CEO Tim Steiner told trade magazine The Grocer that Ocado itself was handling the ongoing driver shortage well, but that some of its suppliers were struggling. “We are [...]
Marks and Spencer: How the high street darling keeps breaking the internet May 20, 2024 Marks and Spencer is set to report its results this week and the market is expecting a strong showing from the retailer.
From frumpy fashion to TikTok trendsetter: How M&S regained its high street crown November 8, 2023 Marks & Spencer (M&S) has once again found itself back in fashion with investors and shoppers, posting a near £100m in rise in profits in its half year results. Shares in the company rocketed over 10 per cent this morning after the century-old business said its turnaround plan which intends to make the brand look [...]
Ocado invests £10m in self-driving vehicle company Oxbotica April 16, 2021 British online grocer Ocado said on Friday it would invest £10m in autonomous vehicle software company Oxbotica in a bid to reduce delivery costs. The partnership will include all aspects of self-driving vehicle development, with the aim of boosting retailers’ customer value proposition through a shift to electrically powered cars. However, vehicles that operated in [...]
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 [...]
Grocery sales: Ocado on top as supermarkets snag 58m more visits as UK exited lockdown May 25, 2021 As the UK’s vaccination programme pushes on, supermarkets have enjoyed 58m more shopping visits in the first quarter of this year than last year, according to industry data released today. Supermarkets actually had more visits in the 12 weeks to 16 May, than when panic buying gripped shoppers at the start of the pandemic, market [...]
Chocolate and discount-loving Brits drive food inflation down for 14th straight month April 23, 2024 Grocery price inflation fell to 3.2 per cent over the four weeks to 14 April, marking the fourteenth monthly drop in a row, new figures by Kantar show.
FTSE 100: Shares rise in London despite poor performance from supermarkets June 17, 2023 London’s top shares eked out another small gain, helping the FTSE end the week on 7,643 points. The gains were led by some of the UK’s biggest energy companies, which managed to outweigh some of the pressure put on supermarkets stocks, apart from Ocado which soared. By the end of the day, the FTSE 100 [...]