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 [...]
Business of the year September 16, 2013 There’s been some really first-rate performances from some of the nation’s kargest and best known companies this year, making choosing a winner exceptionally hard. The most surprising entrant perhaps is Ocado, since many in the City had written the internet grocer off after its share listing. Thomas Cook is in there because in 2013 it [...]
Morrisons to cut new space as it focuses online September 12, 2013 WM MORRISON joined rivals yesterday in calling an end to the space race, as it prepares for its launch online next year and invests in its convenience M Local stores amid falling sales. Chief executive Dalton Philips announced plans to limit growth to 350,000 sq ft – about half of the average rate of the [...]
Analyst Views: What was your reaction to Morrisons’ half year update? September 12, 2013 KEITH BOWMAN | HARGREAVES LANSDOWN “Morrisons has moved to reposition its strategy in line with its major rivals. With the rollout of convenience stores ongoing and its push online now supported by Ocado, management now appear to view its armoury as complete, with group capital expenditure to be reduced. JONATHAN PRITCHARD | ORIEL SECURITIES “Morrisons’ [...]
Ocado sees sales swell ahead of Morrisons partnership September 12, 2013 It's been a really good 12 weeks for Ocado with confirmation that they'll be partnering up with Morrisons from early 2014. The e-grocer has seen gross sales up 18.8 per cent on the same 12 weeks to mid-August last year, reaching £189.2m (release). Orders are also looking more healthy. Per week numbers have risen 15.3 [...]
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 [...]
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. [...]
The Nominations: A very warm welcome to the shortlists for the City A.M. awards 2013 September 8, 2013 TODAY we kick off the countdown to this year’s City A.M. Awards with the first of the shortlists for an event that has rapidly established itself as a highpoint in the annual calendar. Our awards, now in their fourth year, celebrate all of the City’s main sectors and the people that make sure London remains [...]
London Report: UK retailers set to reveal if tills ringing again September 8, 2013 RETAILERS are set to reveal this week how big an impact the UK recovery is making as consumers return the shops. Reports from Dunelm, Home Retail, Morrisons, Next, Ocado and Sports Direct will show how confident buyers are in the improving economy. Ocado, which will update the market on Thursday, was rated a “buy” by [...]
Ocado and Sports Direct: better to arrive late than not at all August 26, 2013 Whenever bankers are asked to explain why London’s market for new issues – the IPO market – nearly collapsed altogether last year, they cite a number of factors that always include the poor performance of a number of high-profile flotations. The lists are long and varied but almost everybody’s bete noirs include Sports Direct, Mike [...]