Ocado’s latest results are picked up by the papers this morning. Ocado boss Tim Steiner Ocado boss struck a positive note despite fall in profits and rise in debt, The Telegraph writes. The Financial Times focuses on the fallout from the Amazon takeover of Whole Foods as Ocado dismissed fears of increased competition from the e-commerce giant. Ocado said that a deal secured last month to distribute groceries for an unnamed European retailer would be “the first of many” as it reported a slump in first-half profits despite rising sales (The Times). Shares in the online grocer ticked higher despite its profit tumbling as it reported a growth in customers and revenues (The Mail).
The Telegraph also picks up on the first-quarter update from Booker, writing the ‘sun shines on Booker as hot weather boosts Tesco target’s sales’. The owner of Londis and Budgens and supplier of thousands of convenience stores and restaurants posted a 9.6% rise in like-for-like sales, excluding tobacco, in the three months to June 16, The Mail reports.
The Mail covers the raft of changes to the Tesco Clubcard loyalty scheme, including going contactless and adding Hotels.com and Uber to its list of reward partners.
A long period of falling shop prices is almost over as inflation squeezes retailers’ margins, making price rises “inevitable”, the British Retail Consortium has warned (The Telegraph).
Worldpay, Britain’s largest payments processor, has accepted a £9.1bn takeover offer from US rival Vantiv just 24 hours after the talks first emerged (The Telegraph).
Online auction giant eBay is launching a price match later this month on around 20,000 new items listed in its ‘daily deals’ section (The Mail). If customers find any of the items cheaper online at Amazon, John Lewis, Argos, Tesco, Asda or Currys, eBay will match the lower price.
The Guardian has a light-hearted tale of former Wimbledon champ Rafa Nadal’s confusion at a supermarket self-service checkout. A fellow shopper at the Tesco Express lent the tennis star a hand at buying six cans of Diet Coke.