Ocado customers are once again buying more goods after a string of price cuts won back middle-class shoppers (The Daily Mail) Ocado’s retail joint venture with Marks & Spencer has reported better than expected sales and returned to positive volume growth for the first time since the pandemic (The Times £).
The chairman of Naked Wines apologised to shareholders after a sharp fall in sales to both new and repeat customers triggered a fresh profit warning (The Times £). The chairman of Naked Wines has apologised to shareholders after a ‘tough’ year in which the online wine seller swung to a loss (The Daily Mail).
Shares in grocery delivery group Instacart jumped more than 10% on their first day of trading, in the latest sign of investor appetite for new listings (The Financial Times £). Almost three years after starting preparations to become a public company, shares in Instacart rose by as much as 43% at one point on its Nasdaq debut, giving the online grocery startup a valuation of more than $14bn (The Times £).
The Irish cider maker C&C Group’s shares were full of fizz after a positive trading update went down a treat with investors. (The Times £)
The union representing Wilko workers has called on MPs to question Lisa Wilkinson on how her family, which received almost £100m in dividends in the decade before the retailer’s collapse, will plug the company’s multimillion-pound pension fund deficit. (The Times £)
Thousands of people have died avoidably after the government stopped telling the food industry to cut how much salt it puts into its products, research has found. (The Guardian)
Commercial property investors fret about the number of empty desks sitting in the UK office market. They could console themselves by considering the unexpected revival of the country’s out of town retail parks. (The Financial Times £)
Motorists are being warned of rising fuel costs as global oil prices reach a 10-month high. (Sky News)
China’s imports of seafood from Japan slumped last month as Tokyo started to release treated waste water from the damaged Fukushima nuclear power plant. (The BBC)