Crumbs! Cameron fails to use his loaf October 1, 2013 DAVID Cameron may have been pilloried yesterday for failing LBC’s everyman test and admitting he didn’t know the price of sliced bread, but after using our loaves and doing a little investigative work, The Capitalist has a crumb of sympathy for the Prime Minister. Whether one prefers artisan sourdough or tiger bread, the selection of [...]
Ocado boosted by Christmas shopping rush January 15, 2013 ONLINE grocer Ocado said it enjoyed a very merry Christmas after posting a 14 per cent rise in gross sales to £91.6m in the six weeks to 6 January. “It was a very good festive season for us, evidenced by growth in orders, basket size and sales,” chief executive Tim Steiner said. “As has been seen [...]
APR Energy to buy GE rental unit for £194m October 23, 2013 TEMPORARY power provider APR Energy yesterday said it has agreed to buy General Electric’s power rental business for $314m (£194m), in a deal which its chief executive called “transformational” for the company. John Campion told City A.M. that the acquisition of GE Power & Water in Houston, which rents mobile gas turbines to provide temporary [...]
Ocado chair Michael Grade poised to retire January 21, 2013 OCADO chairman Michael Grade is set to announce his retirement as chairman of the online retailer as early as today. Lord Grade, formerly executive chairman of ITV, has been chairman of Ocado for seven years, overseeing the company’s £800m float three years ago. He is tipped to stand down at Ocado’s annual general meeting in [...]
Bottom Line: A global web player that is best of British September 19, 2013 ANYONE who said there was no space in the internet retail revolution for British business may have to start eating their words. On the heels of Ocado’s return to form thanks to a licensing deal with Morrisons comes this startling set of numbers from Asos. They confirm the online fashion retailer’s extraordinary achievement. In little [...]
Sir Stuart Rose takes the hot seat at Ocado January 22, 2013 SIR STUART Rose, the former boss of Marks & Spencer, is to become chairman of Ocado, in a major coup for the online retailer. The company said Sir Stuart is to replace Sir Michael Grade after its annual general meeting in May. Grade, best known for his roles at ITV and Channel Four, will be [...]
Sir Stuart Rose appointed new Ocado chairman January 22, 2013 Online grocer Ocado has appointed former Marks & Spencer chief executive Sir Stuart Rose as its new chairman. Sir Stuart will succeed Michael Grade as chairman following Ocado’s AGM in May. Rose, who has worked in the retail sector for 41 years, was chief executive of clothing and food retailer Marks & Spencer from 2004 [...]
Kitchen King lines up advisers for flotation September 8, 2013 THE OWNER of household appliances website AO.com – previously known as Appliances Online – is understood to have hired banks to work on a £300m flotation on the London Stock Exchange. John Roberts, the founder of DRL Limited, which owns AO.com, has reportedly hired Jefferies and JP Morgan to prepare the company for a listing. [...]
Rose will keep up Ocado’s appearances – but little else January 22, 2013 WHEN Sir Stuart Rose dipped his toe back in the retail waters by becoming chairman of Blue Inc and backing The Hut last year, it should have been obvious he had his eye on bigger things. But why Ocado? This column – not to mention several high-profile City analysts – have long taken a dim [...]
Morrisons tops FTSE despite profit decline as supermarket remains confident of second half bounce September 12, 2013 Supermarket Morrisons has seen its pre-tax profits drop from £440m to £344m in the half year to 4 August (release). The announcement also includes a 10 per cent decline in underlying profit to £401m. We anticipate an improvement in our sales performance during the second half and accordingly the Board believes the Group's performance for [...]