Ocado
This coverage analyses Ocado’s performance and strategy within the UK retail and grocery sector, focusing on its technology-driven fulfilment operations, partnerships, financial results, leadership changes, and innovations in online retailing. Reporting helps retail managers and executives assess how Ocado’s model and decisions influence the broader grocery and e-commerce landscape.
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Apr- 2024 -30 AprilSupermarkets
Fifth of Ocado shareholders vote against CEO bonus
Amost a fifth of Ocado shareholders voted against a new pay scheme that would see co-founder and CEO, Tim Steiner, receive a bonus share award of £14.8m. Some 19% of votes cast at the retailer’s annual general meeting opposed the new pay scheme, which would be awarded to Steiner if…
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23 AprilSupermarkets
Supermarket sales jump 3.3% as inflation continues to fall
Overall take-home grocery sales rose by 3.3% over the four weeks to 14 April as grocery price inflation also continued to fall to 3.2%, according to the latest data from Kantar. Kantar said the decline has been aided by a significant increase in promotional spending, with items bought on offer…
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22 AprilNews
Today’s news in brief-22/4/24
Investors from the Middle East and China are eyeing Selfridges following Signa’s financial struggles, leading to restructuring and insolvency. Central Group, a co-owner, is seeking to buy out Signa’s stake, with potential partnerships being explored with sovereign wealth funds and tycoons. Notable entities like Saudi Arabia’s Public Investment Fund and…
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22 AprilOnline & Digital
Ocado shareholders call for switch to New York stock market
Ocado is reportedly facing pressure from shareholders to abandon the London stock exchange in favour of the New York market, according to The Telegraph. The outlet said that in recent weeks investors including a fund manager, have told management they would like to see the possibility of a listing in…
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10 AprilSupermarkets
Ocado secures funding to boost delivery capabilities
Ocado has secured a multi-million-pound funding package from Shawbrook to acquire 43 new refrigerated vans, strengthening its delivery capabilities across the UK. The investment comes at a time when the online supermarket is looking to meet increased customer demand. The funding package comes after the retailer’s partnership with commercial finance…
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8 AprilNews
Today’s news in brief-8/4/24
The John Lewis Partnership has chosen Jason Tarry, former UK boss of Tesco, as its new chairman. Tarry, with over three decades of experience in retail, will succeed Sharon White in September. White led the company through challenging times, including the COVID-19 pandemic and economic crises. Tarry’s leadership is expected…
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8 AprilSupermarkets
Ocado faces shareholder revolt over proposed £15m bonus for CEO
Ocado could reportedly face a shareholder revolt later this month over a new pay scheme that includes a bonus of up to £15m for its CEO, The Financial Times has reported. According to the FT, it comes as the group is looking to change its pay plan as the previous…
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3 AprilSupermarkets
Supermarket sales jump 5.4% in March
Total till sales at UK supermarkets grew 5.4% in the four weeks ended 23 March 2024, according to data from NIQ. Whilst this is a slight increase compared with the 5.3% growth reported last month, the drop in food inflation (3.7%) compared with 15% last year has encouraged shoppers to…
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Mar- 2024 -26 MarchNews
Today’s news in brief-26/3/24
Asos reported an 18% decline in sales during the first half of fiscal year 2024, yet maintained its profit guidance. Despite the sales dip, Asos showcased strong free cash flow performance, reaching £20m, its best since FY17. CEO José Antonio Ramos Calamonte highlighted the company’s progress in implementing its ‘Drive…
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26 MarchNews
Ocado sales rise 10.6% to £645.3m in H1
Ocado has revealed sales increased 10.6% to £645.3m in the 13 weeks to 3 March 2024, up from £583.7m the previous year. It comes as the online supermarket said active shopper numbers for the group rose 6.4% to one million as average orders per week of 414,000 grew 8.4% compared…
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