Sainsbury's badly lags rivals, adding to woes ahead of results
Latest supermarket sector figures showed growth for all big names except Sainsbury's
Company
Ocado Group PLC
LON:OCDO
Ocado was launched in partnership with Waitrose in January 2002, and delivers quality groceries across selected areas of England and Wales. Our business was conceived with one simple objective in mind: to offer busy people a true alternative to going to the supermarket every week. By doing this, we created a totally new shopping experience, built entirely around our customers’ needs. By fulfilling orders from a dedicated warehouse, we can show virtually live inventory on our webshop, enabling customers to choose from a range of groceries that are actually in stock. By using unique logistics software and satellite navigation systems in our vans, we strive to deliver the right goods at the right time.
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Ocado fire probe finds robot set alight by battery fault
Andover was one of two Ocado warehouses almost entirely operated by robots
HSBC cuts Ocado as it thinks while risk has shifted to customers after recent deals, they have not been completely eliminated
While Ocado has lowered its direct exposure to the Grocery Home Delivery model through its recently announced joint venture with M&S, it has not changed the fundamental economics which HSBC believes are challenged
Marks & Spencer weak as Credit Suisse cuts its rating to ‘underperform’ from ‘neutral’
The Swiss bank lowered its earnings per share forecasts for the FTSE 100-listed firm by 16% and 27% for 2019 and 2020, respectively, with risks to the downside
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FTSE 100 ends flat as the market awaits the outcome of EU leaders emergency meeting on Brexit
The raft of macro-economic news from the US, the UK and ECB policy failed to cheer the FTSE 100 as the focus turned to the meeting in Brussels
Ocado shares rise as Andover warehouse fire has smaller-than-expected impact on revenue
“The fire has been a setback, but it will be only a temporary one,” said chef executive Tim Steiner
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FTSE 100 joins other global indices to head higher and finishes above 7,300
The Footsie added 0.34% to close at 7,324, while US shares are also higher at the time of writing
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Brexit 'Meaningful Vote 3': Slasher, thriller, or just postponed?
Aside from the Brexit shenanigans, the Day Ahead will also bring the release of the latest UK jobs data, plus trading updates from online retailers Ocado PLC and ASOS PLC
M&S to open superstores that stock full food range ahead of online delivery launch with Ocado
M&S will open new superstores that offer its full range of food to bring in families for their big weekly grocery shop
M&S and Ocado cost savings key to making tie-up more attractive, says RBC Capital
RBC revised its target prices on Marks & Spencer and Ocado shares but maintained a 'sector perform' on the stocks
Jefferies cuts Marks & Spencer to ‘hold’ from ‘buy’ on concerns over Ocado jv plans
The US broker's analysts said: “We are of the view that the £70mln of EBITDA synergy ambitions underpinning the deal rationale may prove rather difficult to deliver in full”
As M&S and ITV unveil tie-in deals, is the plug-and-play/consolidation model becoming the default catch-up method for digital?
With M&S choosing to anchor itself to online grocer Ocado and ITV and the BBC pooling their efforts in online streaming, have tie-ins and consolidation become the best strategy to ward off the surge in digital competition?
M&S set for big rights issue, divi cut to fund online grocery joint venture with Ocado
M&S intends to conduct a rights issue to raise up to £600mln, which will be launched in due course, and which is fully underwritten on a standby basis by Morgan Stanley
FTSE 100 finishes lower as global markets hit by geopolitical worries
The UK's blue chip index closed down nearly 44 points at 7,107. Meanwhile, mid-cap cousin FTSE 250 fell more than 116 at 19,513
Ocado and M&S confirm talks regarding joint venture
The two firms confirmed the talks in separate announcements, just weeks after Ocado boss Tim Steiner had stayed tight-lipped on speculation of a possible tie-up following newspaper reports in January
Ocado shares drop as it warns fire at Andover warehouse will hit sales
Following the news of the fire, Peel Hunt downgraded its recommendation to ‘hold’ from ‘buy’ and slashed its target price to 1,000p from 1,700p
Ocado blames 'operational issues' as fire at Andover warehouse disrupts grocery deliveries
Firefighters are still battling the fire, which started early Tuesday
Ocado earnings drop in 2018 as it invests in technology and warehouses
Ocado expects operating costs of £15mln-£20mln in 2019 to dent earnings
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FTSE 100 closes convincingly higher; BP top gainer
The UK's premier share index closed up over 143 points higher at 7,177
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BP's finals to deliver “good year-on-year progress", plus strong growth in headline cash flow
Aside from BP's full-year results, the Day Ahead will also include an update from FTSE 100-listed online grocer Ocado PLC and from mid-cap real estate firm St Modwen Properties