Promethean sees sales plunge April 18, 2012 INTERACTIVE whiteboard firm Promethean World yesterday revealed a dramatic sales drop in its key North American market, causing its share price to tumble a further 20 per cent. Blaming “challenging market conditions”, the interim management statement showed revenues of £35.9m for the first quarter of 2012, a 14.4 per cent decline on the same period [...]
Ocado growth forecasts slashed August 11, 2011 Goldman Sachs has cut its sales and earnings forecasts for online grocery group Ocado after the firm said its lack of warehouse capacity was continuing to hinder growth. Goldman, one of Ocado’s two brokers, revised its 2011 sales forecast down two per cent, and cut its 2012 forecasts by five per cent. It said forecast [...]
Ocado growth forecasts slashed August 11, 2011 Goldman Sachs has cut its sales and earnings forecasts for online grocery group Ocado after the firm said its lack of warehouse capacity was continuing to hinder growth. Goldman, one of Ocado’s two brokers, revised its 2011 sales forecast down two per cent, and cut its 2012 forecasts by five per cent. It said forecast [...]
Retail guru leaves the firm he helped to float January 23, 2012 ANDREW Bracey, who is leaving the world of online grocery shopping to join recruiter Michael Page, has been Ocado’s chief financial officer since November 2009. Prior to Ocado, he was head of consumer and retail investment banking at Jefferies International, with an 18-year career in investment banking and private equity behind him. After studying at [...]
Retail guru leaves the firm he helped to float January 23, 2012 ANDREW Bracey, who is leaving the world of online grocery shopping to join recruiter Michael Page, has been Ocado’s chief financial officer since November 2009. Prior to Ocado, he was head of consumer and retail investment banking at Jefferies International, with an 18-year career in investment banking and private equity behind him. After studying at [...]
Ocado founder wife cuts stake August 17, 2011 The wife of one of the Ocado founders slashed her stake in the firm just before it crashed to a record share-price low. Kira Faiman, wife of Jonathan Faiman, sold at least £7m worth of stock on 9 August through Tempest Capital. The firm has seen its stock tumble to below its flotation price as [...]
A momentary triumph for Tim’s vans January 12, 2012 SO a glimmer of light for Ocado. We’ve long taken a sceptical view on the delivery firm, but its festive trading figures might just win it some breathing space, among all the other doom and gloom. Ocado — run by ex-Goldman banker Tim Steiner — lucked out by making two savvy decisions this winter. First, it [...]
Ocado adds new Oxford base August 4, 2011 Online retailer Ocado is to open a new regional depot near Oxford to tackle capacity problems at the online grocer. Due to open in November this year, the 43,000 sq ft warehouse will be able to process 10,000 orders a week. The new site will take pressure off existing sites in Weybridge and Coventry, as [...]
Ocado adds new Oxford base August 4, 2011 Online retailer Ocado is to open a new regional depot near Oxford to tackle capacity problems at the online grocer. Due to open in November this year, the 43,000 sq ft warehouse will be able to process 10,000 orders a week. The new site will take pressure off existing sites in Weybridge and Coventry, as [...]
Sainsbury’s closes gap in online sales March 12, 2012 SAINSBURY’S has claimed to have become the second-biggest online grocer after its orders topped 165,000 a week. The supermarket said a 20 per cent rise in orders per week, with an annualised turnover of £750m, makes its website the fastest growing online grocery business. Overall, Sainsbury’s still ranks third behind Tesco and Asda, but the [...]