Ocado to increase prices this year due to devaluation of sterling January 31, 2017 Ocado has become the latest retailer to say it will be increasing prices this year due to the fall in the value of the pound since the Brexit vote. Speaking to City A.M., Duncan Tatton-Brown, Ocado's chief financial officer, said it was likely that the company would increase prices on certain products "as and when the [...]
Construction activity shrinks in March after unusually bad weather, says IHS Markit, CIPS UK construction PMI April 4, 2018 Activity in the construction sector was chilled in March due to “unusually bad weather”, according to the IHS Markit/CIPS UK construction purchasing manager’s index out this morning. Growth slowed from a reading of 51.4 in February to 47 in March, signalling the first time industry activity fell below the 50 no-change marker for six months. [...]
Ocado share price rises as it delivers steady sales growth but eyes sterling currency movements March 14, 2017 Grocery delivery company Ocado reported increased sales but said it remains vulnerable to changing price pressures and currency movements. Shares rose by more than 1.5 per cent at the open before paring some gains. The figures Gross retail sales grew by 13.1 per cent in the quarter to February, matching last quarter’s growth to reach [...]
Ocado chairman Stuart Rose bags £1.3m share award February 12, 2017 Online grocer Ocado gave its chairman Stuart Rose a £1.3m share award last year as part of a pay deal he agreed when he joined the company in 2013. When he was made Ocado chairman, former Marks and Spencer boss Rose bought £400,000 worth of Ocado stock. The company gave him 452,000 shares on the [...]
Ocado set to deliver impressive annual results with £1.27bn sales January 29, 2017 Grocery delivery service Ocado will announce its annual results on Tuesday, and is expected to report a profit for the third year in a row. The group's sales are likely to be up 14.4 per cent year-on-year to £1.27bn according to a report from investment company Goldman Sachs. Despite scepticism from City investors, the firm also [...]
Craft beer maker FourPure to create 20 new London jobs with £2.5m brewery investment in Bermondsey January 31, 2018 Craft brewer FourPure has put £2.5m into expanding its Bermondsey brewery, increasing capacity by 400 per cent. The project will create 20 new jobs and allow the brand, which is stocked in the likes of M&S, Tesco, Asda and Ocado to keep up with demand. Co-founder Daniel Lowe said the company was now talking to [...]
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 [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
Last Week in the City: Stiff competition in funerals? June 1, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]
Morrisons’ bounce back shapes up with same-day delivery Amazon tie-up (but it’s bad news for Ocado’s share price) November 16, 2016 The dream team is very much in business. Yes, that's right: Amazon and Morrisons have developed their tie-up to launch the aptly named Morrisons at Amazon service. But it's bad news for Ocado: shares were down 9.4 per cent by the early afternoon. Ouch. From today, Amazon Prime customers in selected areas can order a full [...]