Tim Steiner news, comment and analysis – Page 3
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Analysis & FeaturesWhy would Amazon want to buy Ocado?
Continued losses dog the group, but Ocado could make a valuable prospect for a big player seeking automation and online grocery dominance
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NewsCity snapshot: Warm weather boosts grocery sales volumes in June
A June heatwave helped improve grocery volumes and saw sales edge upwards, according to new data from NIQ
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NewsOcado set to close its Hatfield fulfilment centre
Ocado called the Hatfield site – which currently handles around a fifth of Ocado Retails order volume – “a foundation stone in the Ocado story”
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NewsCity snapshot: Nestlé first quarter volumes slip back as price hikes near 10%
Nestlé has reported organic growth of over 9% despite a dip in sales volumes. Plus ABF margins hit by cost inflation, Ocado to shut CFC, trading improves at McBride and all the rest of the latest news from the City
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NewsCity snapshot: Ocado shares slump as annual loss hits £500m
Ocado has posted a statutory loss of over £500m after a slowdown in its retail operations, sharply rising costs and one-off charges hit its bottom line. Plus, Kantar finds grocery inflation hits new high, profits and sales up and Kitwave and McBride posts first half recovery
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NewsCity snapshot: Ocado enters South Korea with Lotte Shopping partnership
Ocado shares have leapt after signing a deal with South Korean consumer conglomerate Lotte Group to roll out its technology in the country
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NewsCity snapshot: Naked Wines to pivot to profit focus after ‘mistakes’ chasing growth
Naked Wines has cut growth expectations and pledged to cut costs and staffing levels to prioritise the bottom line after admitting it has “made mistakes” in the pursuit of rapid growth
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NewsMedia Bites 17 October: Pound/Chancellor, Tesco, Kroger, Beyond Meat
The pound and UK government bond yields have recovered in anticipation of a key statement from the new chancellor
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NewsCity snapshot: Aldi overtakes Morrisons as grocery inflation soars to 12.4%
The UK’s big four grocers are no more as Aldi has overtaken Morrisons’ market share as private label sales continue to grow amid soaring inflation. Plus, Ocado returns to growth in Q3, FeverTree first half sales rise but shipping costs hit profits and all the rest of the latest news from the City.
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NewsOcado Retail names Hannah Gibson CEO following Mel Smith’s shock departure
Gibson is currently chief product officer for Ocado’s technology arm
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NewsCity snapshot: Nestlé upgrades sales on pricing and volume growth but margins slip back
Nestlé has upgraded its full year growth expectations as first half sales rose on pricing and volume growth. Plus results from Diageo, AB InBev and Virgin Wines, while Hotel Chocolat’s Japanese JV restructures and Ocado’s COO takes new role.
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Comment & OpinionWas Ocado Retail CEO Melanie Smith pushed or did she jump?
That’s the question on everyone’s lips
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NewsCity snapshot: Ocado falls to £211m first half loss amid retail slowdown
Ocado has posted a £211m first half pre-tax lox amid a fall in retail sales as trading was hit by tough comparatives the rising cost of living crisis. Plus Britvic posts ‘robust’ first half growth, M&S CFO to depart and all the latest news from the City.
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NewsOcado Retail CEO Melanie Smith to depart next month
Smith has led the 50-50 joint venture between Ocado Group and M&S since 2019, when it was formed
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NewsOcado to acquire robotics startup to accelerate CFC bot rollout
The acquisition – the terms of which have been agreed – is expected to complete by 6 June this year. The value of the deal is €10.2m
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NewsMedia Bites 5 May: Just Eat Takeaway.com, Cost of living, Ocado
Shares in Just Eat Takeaway.com fell 7% on Wednesday after the company revealed it was investigating a complaint against one of its top executives and that its chair was stepping down
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NewsOcado executive pay policy survives investor revolt at AGM
Ocado today saw almost 30% of shareholders vote against an executive pay policy which could reward CEO Tim Steiner with £100m over the next five years
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NewsMedia Bites 3 May: EG Group, Reckitt Benckiser, Ocado, Lord Rose
The billionaire owners of Asda are in talks to sell their forecourt empire EG Group to a Canadian convenience store giant in a deal that could value it at around £13bn
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NewsCity snapshot: Camelot set to lose lottery licence as Gambling Commission picks Czech player Allwyn
Camelot is set to lose its licence to run the National Lottery for the first time since its launch in 1994. Plus, Imperial Brands in discussions to dispose of Russian business, Ocado signs Polish supply deal with Auchan, Virgin Wines interims and the rest of the latest news from the City
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NewsCity snapshot: Nestlé posts strong growth but inflation hits margins
Nestlé has reported strong annual growth in 2021, driven by continued retail growth and a recovery in out of home, though profit margins were hit by cost inflation. Plus Ocado and Groupe Casino deepen partners and Reckitt’s margins hit by costs.