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Ocado flags record Christmas as M&S offerings entice shoppers
Ocado Retail has said it enjoyed a record Christmas to close out a strong year, aided by appetite for a growing range of Marks and Spencer Group PLC (LSE:MKS) goods. Revenue surged by 17.5% to £715.8 million in the fourth quarter, taking the figure up 13.9% to £2.69 billion over the year, the Ocado Group PLC (LSE:OCDO) and M&S-owned joint venture said Tuesday.
UK's Ocado Retail posts 17.5% rise in quarterly revenue
British online supermarket Ocado Retail, a joint venture between Ocado Group and Marks & Spencer , reported a 17.5% rise in fourth quarter revenue, saying it won more customers from rivals, helped by more competitive pricing.
Ocado needs more than a good Christmas to spark revival
For all its UK grocery market share gains, Ocado Group PLC (LSE:OCDO) share price continues to trundle along near historic lows. Fans say the grocery performance shows it is moving in the right direction boosted by the tie-up with Marks & Spencer.
Ocado, M&S and Lidl gain most market share, grocery stats show
Ocado and Tesco grabbed more grocery market share last month, data from Nielsen IQ showed. Overall, four-week UK grocery sales were up 3.2% up to 28 December, with analysts saying it implied modest volume growth as prices climbed.
Ocado warehouse issue leaves hundreds without Christmas essentials
Hundreds of Ocado customers have been left without vital Christmas shopping due to an issue at one of the online grocer's fulfilment centres. Some were said to be missing chilled and frozen products, while others claimed to be without dozens of items, a report by the Mail Online said.
Morrison's rejig to Ocado contract a 'red flag' for online grocery group - analyst
The decision by Morrison Supermarkets to reduce its use of Ocado Group PLC robot-run warehouses is another example of grocery chains around the world scaling back expansion plans with the online delivery specialist, according to analysts at AJ Bell. “The ground beneath Ocado's feet continues to crumble," they said, following decisions by several clients in the US and Canada.
Ocado bids to boost capacity as partner Morrisons reshuffles distribution
Ocado Group PLC (LSE:OCDO) has said partner Morrisons will no longer take deliveries from its Erith distribution centre, paving the way for its grocery venture to build capacity. Morrisons will rather build volumes from Ocado's Dordon distribution site and expand use of the grocery technology firm's artificial intelligence-powered online network.
Britain's Ocado says partner Morrisons to cease deliveries from Erith site
British online supermarket Ocado Group said its partner Morrisons will gradually cease deliveries from its robotic warehouse in Erith, in London, and will instead increasingly utilise a site in Dordon, central England.
Ocado and Tesco outpace grocery market growth as Christmas shopping starts early
Ocado Group PLC (LSE:OCDO), Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) all outgrew the wider grocery market as supermarkets enjoyed their best month of the year. Over the four weeks to 3 November, take-home sales at the grocers increased 2.3% to £11.6 billion over the four weeks to 3 November – the biggest sales period of the year so far.
Ocado's new chair points at effort to push into new sectors
Ocado Group PLC (LSE:OCDO) has appointed IT and consulting veteran Adam Warby to be its new chairman. He will join the board as an independent non-executive director from tomorrow, 1 November, before assuming the role of chair on 1 December, when current chair, Rick Haythornthwaite, will step down from the board after four years at the head of the table.
Ocado names Adam Warby as new chair
Ocado , the British online supermarket and technology group, on Thursday named Adam Warby as its chair from Dec. 1, succeeding Rick Haythornthwaite.
Ocado Group reportedly tapping former Microsoft exec as new chair
A former Microsoft Corp executive has been tapped to replace Ocado Group PLC (LSE:OCDO)'s chairman from next month, according to a Sky News report. If confirmed, Adam Warby, whose LinkedIn profile also cites senior positions at private equity giant KKR and Microsoft IT partner Avanade, would replace existing chair Rick Haythornthwaite.
