Tim Steiner news, comment and analysis – Page 2
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NewsM&S chief adamant final joint venture payment is not owed to Ocado
It could put the two on course for a legal showdown
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NewsCity snapshot: Beyond Meat sees 18% sales plunge on weakening plant-based demand
Vegan foods pioneer Beyond Meat saw an 18% plunge in first quarter revenues as demand in the category continues to weaken
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NewsMedia Bites 30 April: Ocado, Heineken, Brexit, Getir
Ocado has suffered a shareholder revolt over a new pay scheme that includes a bonus share award of up to £15m for co-founder and chief executive Tim Steiner
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NewsMedia Bites 29 April: Ocado, UK harvests, Loyalty cards
Ocado is facing criticism as it seeks shareholder approval today for a potential bonus worth up to £14.8m for its chief executive, Tim Steiner
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NewsMedia Bites 25 April: PZ Cussons, Heineken, Reckitt Benckiser
A decision by PZ Cussons to offload self-tanning brand St Tropez and explore a sale of its Africa business makes headlines this morning
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NewsMedia Bites 8 April: Asda/Aldi, Ocado, Retail insolvencies
Aldi has overtaken Asda to become Britain’s third biggest supermarket
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NewsCity snapshot: Membership growth boosts sales and profits at Co-op
The Co-op moved back into operating profit last year as strong membership growth and increased like-for-like food sales boosted performance at the group
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NewsMedia Bites 25 March: Unilever, food security, Ocado, Asda
Unilever’s move to spin off ice creams continues to make headlines into the weekend
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NewsMedia Bites 4 March: Ocado/M&S, Asda, chocolate prices
Are Ocado and M&S running out of road, asks The Times. M&S and Ocado could be heading for dispute over the terms of their JV
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NewsOcado threatens to sue M&S over final joint venture payment
The joint venture with Ocado Retail has not met undisclosed performance targets, meaning M&S will not automatically pay the full final instalment of £191m
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NewsMedia Bites 1 March: Sainsbury’s, Ocado, Asda, UPF, Bud Light
In a busy morning of F&B news, the papers focus on job cuts at Sainsbury’s and a growing rift between Ocado and M&S
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NewsCity snapshot: Ocado remains in the red despite revenue rise
Ocado posted a £394m annual loss last year, despite a 9.9% rise in revenues as the cost of technology and rolling out its operations internationally continue to weigh on its bottom line
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NewsOcado Solutions CEO Luke Jensen to step down
John Martin, current non-executive director at Ocado, will be appointed as CEO of Ocado Solutions on 1 September 2023
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NewsCity snapshot: Nestlé raises sales guidance on strong first half pricing
Nestlé has raised its full year sales outlook after better than expected price-driven growth in the first half of the year. Plus Britvic buys two bolt-on drinks brands and Ocado Solutions CEO steps down
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NewsPayday for Ocado following patent dispute settlement with rival AutoStore
The robotics rivals announced a “complete settlement of all claims” in their global legal wranglings over patents “avoiding further litigation and associated costs”
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NewsCity snapshot: Cranswick lifts outlook as inflation slows
Meat processor Cranswick has raised its annual financial expectations after a “strong” start to the year and signs inflation is starting to slow. Plus, Ocado settles long-running legal dispute with Norway’s AutoStore.
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NewsCity News: Ocado shares soar 19% as investors sense ‘jam today’
Ocado shares soared 19% on Tuesday as the grocery tech group outperformed City expectations in the first half, but analysts remain spilt over future prospects.
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NewsOcado ‘gaining customers from the discounters’
The online supermarket this week posted a 10.6% increase in active customers
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NewsMedia Bites 19 July: Ocado, Kantar, Pret
In a very busy morning for food & drink in the papers, Ocado’s latest results, the latest Kantar market share data and a first profit for Pret since 2018 all make headlines.
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NewsCity snapshot: Ocado losses grow as M&S retail partnership swings into red
Losses at Ocado have widened in the first half despite revenues growing as the grocery tech group was hit by a range of exceptional costs and battled to get the online M&S partnership on track