A shortage of land could kill off London’s e-commerce revolution September 13, 2016 Recent reports that Amazon is set to test drone deliveries in partnership with the UK government is just the latest salvo in the fiercely contested battle between the e-commerce giants that are transforming the way we shop. The move also demonstrates the challenges of a constantly evolving logistics sector. City A.M. readers are at the [...]
Next and Morrisons: What a difference a year makes September 16, 2016 What a difference a year makes. This time in 2015, shares in clothing retailer Next were up after it reported a jump in sales in its first half. Meanwhile, Morrisons warned of a “long recovery” as it made plans to sell its underperforming M Local stores amid falling sales and profits. Yesterday those fortunes reversed: [...]
Amazon rolls out fresh food service for paying, east London members June 9, 2016 US online retailer Amazon has today launched its fresh food delivery service in central and east London. The service is further restricted to Amazon’s Prime members, who pay a £79 per year fee for various TV and music streaming services and free delivery on certain items. Amazon, after taking significant market share from many of [...]
All eyes will be on Morrisons’ interim results this week to see if the strategy of CEO David Potts has delivered September 13, 2016 WM Morrison is on a mission to be leaner and meaner. Under CEO David Potts, 'in' have come aggressive price cuts while 'out' are a series of ill-fated ventures including a minority stake in US online grocery business Fresh Direct and M-Local, a hastily assembled collection of convenience stores. Potts has turned his focus to the [...]
Morrisons reports improved sales and increased profits and says Brexit has had no negative effect September 15, 2016 Shares in Morrisons jumped almost five per cent as the market opened, after the supermarket reported an increase in sales during the 26 weeks to 31 July, and said it hasn't seen any ill effects from the Brexit vote. The figures Revenue dipped to £8.03bn from £8.06bn this time last year, however like-for-like sales in the first [...]
Week ahead: Markets set to feel the Brexit burn as uncertainty reigns June 27, 2016 The spotlight will this week continue to be firmly on the implications of the UK’s shock decision to quit the European Union. Markets are expected to be on post-Brexit watch, with twitchy traders nervous over potential volatility. After the vote on Thursday the FTSE 100 dived more than eight per cent at the open on Friday [...]
What the analysts are saying about the M&S results: ‘Seismic change’ needed after ‘humiliating’ plans unveiled November 8, 2016 Retail experts have blasted Marks & Spencer's plans for a turnaround – even taking a swipe at the firm's recent collaboration with Alexa Chung – and warned that without "seismic change", the group risks continuing its "terminal decline" to its inevitable conclusion. Marks revealed a massive drop in profits this morning, and outlined plans to close [...]
AmazonFresh opens up to new London postcodes June 30, 2016 US online retailer Amazon has expanded its recently launched fresh food delivery service, Amazon Fresh, across London. Its footprint has grown from 69 to 128 London postcodes less than a month after it began the service in London. Amazon Fresh’s arrival sent shockwaves through the grocery industry. Online supermarket Ocado’s shares fell to a three-year [...]
Ocado leaves investors in suspense but insists overseas deal imminent September 16, 2015 INVESTORS hoping that Ocado would announce its long-awaited contract with an international partner were left disappointed yesterday – despite the company insisting that a deal was imminent. “We’re still targeting to sign one this year,” chief financial officer Duncan Tatton-Brown said, adding the company was in muliple discussions with potential partners. Ocado’s shares, which have [...]
Drop in supermarkets sales leads to UK plc revenues sliding August 15, 2016 Dwindling supermarket sales have weighed heavily on the performance of UK plc, causing listed companies’ revenues to dip 2.2 per cent to £341.7bn in the last quarter, according to new research from retail stockbroker The Share Centre. Supermarkets, which account for nearly one third of the UK's publicly listed companies, saw sales fall below £100bn [...]