Ocado downgraded by JPMorgan as needs a dozen more deals to 'justify valuation'
What is becoming clearer, said the US bank's analysts, is that "the shift towards more CFCs is likely to remain slow"
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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Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Ocado deal gets Lotte love but sceptics still remain
Te deal for its Ocado Solutions business with the retail arm of South Korean conglomerate Lotte Group includes new technologies, meaning that multi-storey robot warehouses could be built for the first time
Ocado surges after making further push into Asia with South Korean tie-up
The online food retailer has signed a deal with Lotte Shopping to develop Lotte's online business using the Ocado Smart Platform with plans for six customer fulfilment centres (CFCs)
Ocado could expand its US presence with Kroger and Albertsons merger
A potential merger between the two largest standalone US grocers is good news for everyone involved at Ocado
Ocado cut to 'reduce' at HSBC and target price slashed 42% after profit warning
HSBC said the recent profit warning highlighted the challenges facing the retailer - namely falling profits and rising costs
Patience wearing thin for Ocado Group supporters club
Profit warnings have already reached three for the group this year and the shares have sunk to their lowest since May 2018
Ocado and M&S fall as joint venture issues another profit warning
The UK online grocery joint venture had also warned on profits after seeing similar trends in May
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FTSE 100 loses most of its gains at the close
The UK's blue-chip index ended 1.2% lower on the day at 7,386 points, having climbed over 7,500 before US CPI data
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Market movers: Peel Hunt upgrades Genus to buy as outlook in China improves
A look at some risers and fallers in the market today.
Ocado lifted by news of an upgrade from Barclays following results
The Barclays analysts said: "With Retail sales set to improve, balance sheet concerns reduced for the time being and CFC deal flow expectations tempered, we think the balance of upside and downside risks is now more evenly poised"
When will Ocado sell the rest of its UK retail arm to M&S?
The price is likely to have increased a lot from the £750mln M&S paid in 2020, but they would certainly be interested in buying, one analyst said
Ocado losses widen but confidence in future profits undimmed
Statutory losses before tax rose to £211.3mln from £27.9mln a year ago
FTSE 100 closes up as ECB delivers biggest interest rate rise since 2000
Britain's premier share index closed up 6.20 points, or 0.1% higher, at 7,270.51
FTSE 100 ends higher, extending recent gains, with Wall Street also on the up
At the close, the UK blue-chip index was 64.23 points, or 0.9% higher at 7,223.24, below the session peak of 7,268.88 but well above the opening low of 7,159.01
Investor diary packed as Ocado, Royal Mail, Nextflix and Tesla report, with kept on UK wages and inflation data
Other results and updates in the week are expected from AJ Bell, Beazly, Centamin, Diploma, Premier Foods and Victoria
Ocado results will be all about progress with partnerships
Shares in the online grocery group are down around 60% since the start of the year, but are roughly flat since May
Ocado slides after going in new direction with France's Casino
The agreements allow for the deployment of Ocado's in-store fulfilment solution across Groupe Casino's Monoprix stores in France
Ocado's robot-operated warehouses not as valuable as previously expected, says Credit Suisse
Analysts expect the group to turn cashflow-positive in 2026, but said there are still some major things that could go wrong
FIVE at FIVE: EasyJet splashes on planes, Ocado slumps after fundraiser, Rolls-Royce hand employees £2,000 and DS Smith cardboard delight
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news