Ocado reports sales growth in final quarter December 8, 2016 Ocado has reported growth in sales and order numbers during the 16 weeks to 27 November, with year end sales up 15.1 per cent – but shares in the firm dropped almost four per cent at the market open. The grocery delivery service said group sales were up 14.5 per cent in the fourth quarter, from [...]
Morrisons may not be the most obvious partner for Amazon, but there is method behind the marriage – and it could mean trouble for Asda, Tesco and Ocado March 1, 2016 Only one pound out of every £10 that Britons spend on groceries drops into Morrisons’ tills. Not a bad ratio, you might think, but like its bigger rivals (over £6 in every £10 is spent in Tesco, Sainsbury’s or Asda), Morrisons has been struggling with a declining market share. The Bradford-headquartered supermarket is not the [...]
Ocado’s share price jumps eight per cent at the open on profit surge January 31, 2017 Ocado's share price jumped eight per cent at the open as it reported a spike in profits. The company's full-year profits beat expectations – despite rising labour costs and price deflation throughout last year. The figures In its results for the year ending 27 November, Ocado reported a 13.6 per cent rise in gross retail sales, up from [...]
Here’s some of the best (and weirdest) new technology from CES 2017 January 11, 2017 Audio The Doppler Labs Here One wireless earphones returned to CES this year. A more practical alternative to the rather silly Apple AirPods, they’re controlled with an app via Bluetooth and can bionically enhance your hearing in a given direction or block out external sounds, as well as the usual music playback features. If you’re [...]
Shoppers spent over £2bn using Visa cards on Black Friday November 29, 2016 UK shoppers spent more than £2bn using Visa cards on Black Friday this year. The figure was up 13 per cent on last year's, and half of the spend was made online. Visa said that there has also been a strong uptake in contactless payments, across all age groups. Among those aged between 55 and [...]
This is how much money Google, Apple, Facebook, Amazon and Twitter make every second January 28, 2016 Earnings season is upon us, and it's been a mixed bag: Facebook announced its revenues increased 51.7 per cent in the three months to the end of December, while Apple said its sales growth had slowed for the first time in a decade. It can be hard to keep track of it all, cutting through the hype [...]
US bookshop chain Barnes & Noble blames election for sluggish sales November 22, 2016 US bookshop chain Barnes & Noble is hoping it can sell more books now the distraction of the US election is over. The company has had another losing quarter, this time it says because of the race for the White House sucking up too much of everyone’s time. “We did experience sluggish sales, which we [...]
Tech entrepreneurs are flocking back to Europe: We want to do it our own way, in our own place October 6, 2016 From Dropbox to Spotify to Deliveroo, it is undeniable that Europe now truly has startup success stories to contend with Silicon Valley. This trend has been bolstered by a wave of European tech entrepreneurs moving back home from the US, bringing with them the knowledge and the culture we so desperately need to foster our [...]
How Argos will help Sainsbury’s rival Amazon after Home Retail Group deal February 2, 2016 Sainsbury’s purchase of Home Retail Group has been everywhere, but only half the story is being told. Arguably the most important half of the picture is what’s being missed. The real impact will not be solely in-store, but the online, logistical and fulfilment capabilities it unlocks for Sainsbury’s. It could well be what drags the [...]
Morrisons’ share price climbs as supermarket and Amazon reveal Pantry and Prime Now tie up – but Ocado’s share price is plummeting February 29, 2016 Morrisons' share price soared 5.4 per cent this morning, after revealing it had secured a major new agreement with Amazon, to sell "hundreds of products" via Prime Now and Pantry. The new tie-up, which will go live "in the coming months", will see Morrisons provide a wholesale supply service to Amazon, offering delivery of its ambient, fresh and frozen products. [...]