Luxfer’s New York flotation shines light on London’s listing problems October 4, 2012 Another day, and another company that has its roots firmly in the UK decides to float in the US. In the past few weeks two companies normally associated with the UK market, Manchester United and Salford-based speciality metals group Luxfer, have chosen the US financial markets to list and raise new capital. The latest figures [...]
FTSE opens flat ahead of Jackson Hole speech August 31, 2012 The blue chip index opened modestly up this morning, as investors were cautious ahead of Fed chairman Ben Bernanke’s Jackson Hole speech later, where he is expected to signal more stimulus for the US economy. Rental equipment supplier Lavendon Group led the risers, up more than nine per cent in early deals. Investors were buoyed [...]
Ocado issues profit warning December 19, 2011 British online grocer Ocado said its full-year earnings were on track to rise by at least a quarter after an easing of supply bottlenecks at its main distribution centre helped weekly deliveries hit a new record. But Ocado, which mostly sells the products of high-end supermarket chain Waitrose, said underlying earnings for the year to [...]
Ocado cuts its losses by 80 per cent and says its warehouse problems are solved January 31, 2012 OCADO said warehousing problems that prompted it to issue a profit warning last month were largely solved as the online grocer posted a pre-tax loss of £2.4m for the year to the end of November 2011. In its second set of preliminary results since its flotation in 2010, Ocado said it had cut its losses [...]
CITY VIEWS: are you surprised by the slump at ocado? December 19, 2011 Nico Tyabji Bloomberg “I can see how Ocado didn’t do very well this year because of the difficult economic climate. I don’t use it although I shop at Waitrose – I find it hard to take the leap to an online service like Ocado.” Reza Kaci City Index “I remember Ocado has had trouble before, [...]
Ocado slumps after grocery profits go off December 19, 2011 SHARES in Ocado took a battering yesterday after the online grocer warned that full-year profits would come in below expectations, due to problems at its main distribution centre in north London. The company, which sells goods from high-end supermarket chain Waitrose, said underlying earnings for the year would be within a range of £27.5m–£28.5m, down [...]
Ocado running late more often December 4, 2011 ONLINE grocer Ocado has seen the punctuality of its deliveries slip in the face of increasing demand. The listed company, which sells Waitrose goods, is understood to have delivered 90-95 per cent of its shopping early or on time in the past three months, compared to an average punctuality rate of 95.5 per cent in [...]
Doing the UK supermarket sweep July 2, 2012 THE jubilant spending during the Queen’s diamond jubilee may have given the high streets a boost, and inflation is being slowly reined in, but UK supermarkets are still facing a difficult year ahead. According to the Confederation of British Industry (CBI), the Queen’s Diamond Jubilee boosted retail sales in June, but shop sales were down [...]
THE GREAT PAY DROP: HOW RETAIL BOSSES ARE FEELING THE PINCH June 7, 2012 Was £3.7m Now £3.4m Sainsbury chief Justin King takes a 9pc cut to total pay package from £3.7m to £3.4m Was £1.02m Now £663k Marks & Spencer chief Marc Bolland sees bonus cut by 50pc from £1.02m to £663,000. Was £574k Now £354m Ocado chief Tim Steiner was paid £354,000, down from £574,000 last year. [...]
CITY VIEWS DO YOU SHOP FOR GROCERIES ONLINE? April 18, 2012 LUCY WALLCRAFT FIDELITY Sometimes I shop online for my groceries, but not always. When I do it’s because it is the most convenient way to get what I need. I mainly use Tesco if I shop online because it is the easiest to use.” SHARON GURNETT MCGRIGORS I don’t personally shop online for groceries. I’m [...]