Company
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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The firm said the deal will have minimal impact to earnings in full year 2017, but expects the transaction to be earnings neutral with the costs of establishing the partnership, offsetting initial fees payable
Credit Suisse’s analysts pointed out that Ocado shares have fallen by more than 20% over the past 4 weeks, materially underperforming their food retailing peers
The German bank warned of: “Slow market growth, market share losses in the supermarket channel and intensifying competitive and cost pressures will continue to restrict growth and margin expansion for Tesco, Sainsbury and Morrison”
The pound's weakness is the source of the Footsie's late strength
Investments and investor services
Sterling's strength weighed on FTSE 100 stocks today
George Salmon, equity analyst at Hargreaves Lansdown said: “The technology kitting out its highly impressive order processing sites is whirring ever faster, and with demand continuing to grow, Ocado has once again chalked up double digit re
Petro Matad was the morning's standout loser, with its shares losing more than 35%, meanwhile, in the blue-chip market the supermarkets were moving higher.
In a trading update, the FTSE 250-listed firm said its retail revenue rose by 13.1% to £312.7mln in its third quarter to August 27, an improvement on the 12.5% growth seen in its first half
The FTSE 100 remained in positive territory while the Dow set another new high.
Archive
Day ahead includes a third quarter trading update from Ocado, plus interim results from Iraq-focused explorer Gulf Keystone, and the start of the latest two-day Federal Reserve policy meeting
Investments and investor services
The benchmark for UK blue-chip shares closed up almost 38 at 7,253
Archive
Week ahead includes Federal Reserve interest rate announcement, UK retail sales data, second quarter results from Kingfisher PLC, and trading update from Ocado PLC
Cadence rose after it unveiled plans to offload one of its investments
Investments and investor services
The FTSE 100 traded in a narrow band all day, finishing 5 points lower at 7,319
ITV, Burberry and GlaxoSmithKline could face potential bids from international rivals as a weaker pound stokes interest in a number of UK-based firms
Ocado has seen a pick-up in enquires from US supermarkets interested in possible deals with the online retailer after Amazon announced a deal to buy Whole Foods
Ocado reported a 12.5% increase in revenue in the first half, supported by the shifting trend towards online grocery shopping
Investments and investor services
The FTSE 100 index was closed up 10.37 at 7,367 on Wednesday
Ocado's first half figures are expected to show a similar trend to its first quarter trading update
