FTSE 100 close: Ocado drags London index into black as markets brace for inflation data July 18, 2023 London’s FTSE 100 squeezed out gains today that have pushed it back into the black in 2023, propped up by shares in online grocer Ocado soaring after a decent set of results. The capital’s premier index jumped 0.64 per cent to 7,453.68 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Ocado not for you: Three reasons why online grocer’s results may not be as bad as they seem February 28, 2023 Ocado’s crown as the online food retailer which keeps the middle classes stocked in organic essentials has been threatening to slip for a while now. As one of the companies which sits at the ‘higher-end’ of the online supermarket price point the rising cost of living, not to mention higher mortgage interest rates, was expected [...]
Mike Ashley’s Frasers continues expansion with move into former John Lewis site January 29, 2024 Mike Ashley’s Frasers Group will move into the former John Lewis space at Invesco’s £202m shopping centre in Queensborough, as it pushes ahead with expansion plans.
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 [...]
John Lewis brings back former fashion boss in bid to turn fortunes around January 12, 2024 John Lewis is bringing back its former director Peter Ruis to lead the department chain, in its latest efforts to turnaround the business. Ruis will return to the ailing retailer as executive director after a near decade long hiatus. The high street heavyweight has had senior level stints at some of the world’s most recognised [...]
Mastercard and Visa are back in court over interchange fees February 14, 2024 The lawsuits allege that Mastercard and Visa both acted unlawfully by overcharging businesses for accepting credit and debit card payments on corporate and consumer cards.
Marks & Spencer and Ocado confirm talks over joint retail venture February 26, 2019 Marks & Spencer and Ocado have confirmed they are “in discussions” around a £1.8bn joint venture. Read more: Ocado to develop 20 new warehouses in first stage of US deal with Kroger The tie-up would see M&S pay Ocado between £800m and £900m for a 50 per cent stake in the food delivery service, according [...]
Minister rules out UK Beis Department rebrand to cut out industrial strategy March 8, 2021 A government minister has said that industrial strategy will remain under the remit of Kwasi Kwarteng’s Department for Business Energy and Industrial Strategy (Beis), despite speculation the portfolio will be dropped by the Whitehall department. It was widely reported last week that Kwarteng, the business secretary, had axed the government’s Industrial Strategy Council and that [...]
FTSE 100 slides despite strong earnings but Wall Street picks up May 26, 2021 The FTSE 100 slipped today despite a strong set of corporate earnings on a slow day for Europe’s markets. Across the Atlantic, however, Wall Street showed signs of gains after another positive start for tech stocks. London’s blue-chip index fell 0.1 per cent over the course of the day, a second straight session of losses [...]
Edinburgh Woollen Mill Group still owes £167m to unsecured creditors following collapse June 14, 2023 Philip Day’s Edinburgh Woollen Mill Group empire is understood to still owe money to unsecured creditors following its collapse almost three years ago. The cluster of retail assets, which included Jaeger, Peacocks, Bonmarché, and Edinburgh Woollen Mill, fell into administration in 2020 after sales declined during the pandemic. However, administrator reports for the brands now [...]