OCDO.L - Ocado Group plc

LSE - LSE Delayed Price. Currency in GBp
2,136.00
-49.00 (-2.24%)
At close: 5:06PM BST
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Neutralpattern detected
Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close2,185.00
Open2,155.00
Bid2,138.00 x 0
Ask2,138.00 x 0
Day's Range2,118.94 - 2,227.00
52 Week Range994.01 - 2,249.00
Volume1,946,475
Avg. Volume3,068,714
Market Cap15.255B
Beta (5Y Monthly)1.08
PE Ratio (TTM)N/A
EPS (TTM)-24.70
Earnings DateJul 14, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est985.69
  • Financial Times

    Robots from Estonia boost supermarket spirits during pandemic

    In late March, as the UK went into lockdown, grocery shopping suddenly became difficult. Home delivery slots were almost impossible to secure as would-be customers raced to order online. A small army of 80 or so delivery robots, operated by Estonian company Starship, kept steadfastly trundling through the streets, taking groceries to homes without human contact needed.

  • Coronavirus: Shopping may never be the same, says M&S
    BBC

    Coronavirus: Shopping may never be the same, says M&S

    The retail giant says customers are cookign more from scatch and shopping more online.

  • Tesco changes bonus rules after Ocado success hits pay
    BBC

    Tesco changes bonus rules after Ocado success hits pay

    Dave Lewis and other executives see pay boost after high-flying Ocado is removed from bonus calculator.

  • The robot assistant that can guess what you want
    BBC

    The robot assistant that can guess what you want

    In a five-year project a group of robotics experts have developed a robot that can assist in maintenance tasks.

  • Barrons.com

    Kroger Partner Ocado Sees Surging Demand, Sending the U.K. Online Grocer’s Stock to All-Time Highs

    Ocado stock surged to all-time highs on Wednesday as the U.K. online grocer said retail revenues were up 40% since the start of April.

  • Ocado sales soar 40% in lockdown Britain
    Reuters Videos

    Ocado sales soar 40% in lockdown Britain

    The robots in Ocado warehouses have never been busier. Sales at the British-based online grocer soared by just over 40 percent year-on-year in the second quarter. The jump came as its home market went into lockdown. Ocado was forced to block new registrations and impose a queue system after web traffic surged by hundreds of percent. The company says it took a few weeks to adapt, and admits service standards suffered for a while. It has increased its delivery capacity by about 40% in response. And its high-tech warehouses are running at maximum output. But the firms says it can only do so much to meet demand. Pre-crisis, about 7% of UK grocery sales were delivered. Tesco and the country’s other big supermarkets have all been ramping up capacity to meet the rising demand. But even if delivery capacity doubles, that still leaves about 85% of grocery shopping being served by bricks-and-mortar stores. Now Ocado says there are signs that shopping habits are returning to normal. But it expects the shift to online grocery shopping to keep accelerating, even after the current crisis ends.

  • Coronavirus: 'More normal' shopping habits are back, says Ocado
    BBC

    Coronavirus: 'More normal' shopping habits are back, says Ocado

    The online retailer has seen a huge increase in demand as shoppers stay at home during lockdown.

  • Online supermarket Ocado's sales soar 40% in lockdown Britain
    Reuters

    Online supermarket Ocado's sales soar 40% in lockdown Britain

    British online supermarket Ocado has seen retail revenue soar 40.4% year-on-year in its second quarter to date as it ramped up capacity to meet unprecedented demand during the country's coronavirus lockdown. Britain has been on lockdown since March 23, but Prime Minister Boris Johnson has said the country is past the peak of the pandemic and is expected to set out a plan on Sunday on how it might gradually ease restrictions. In March, Ocado was forced to stop registrations from new customers and impose a queuing system online after it saw a several hundred percentage increase in web traffic.

  • Moody's

    Ocado Group plc -- Moody's announces completion of a periodic review of ratings of Ocado Group plc

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Ocado Group plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.

  • Betting On Retail Stocks At the End of the Brick-And-Mortar World
    InvestorPlace

    Betting On Retail Stocks At the End of the Brick-And-Mortar World

    The stock market's big rebound keeps on climbing, which has been great news for investors, and the stocks I've been telling readers about since mid-March. I continue to expect great results from these investments over the coming months. But at the same time, I expect the road ahead will be a bumpy one, full of periodic setbacks.Source: Shutterstock As this zigzag action plays out over time, the best stocks will progress higher. But many others will not.We are seeing this divergence play out in real time, as investments such as the so-called "shelter in place" stocks are rising or even hitting new all-time highs, while stocks heavily exposed to brick-and-mortar retail struggle to gain any ground whatsoever. And I expect these divergences to persist for a long time.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMany retailers have suffered life-threatening financial trauma that will send them into bankruptcy. Meanwhile, a workforce with 20% unemployment is unlikely to rush back to shopping malls, even if the virus suddenly posed zero threat to their health. * 9 Healthcare Stocks to Buy Even After the Coronavirus Fades In other words, brick-and-mortar retail now faces even greater challenges than what it had been over the past few years.In today's report, I'll go over why brick-and-mortar retail will continue to fail, even if the coronavirus epidemic ends tomorrow. I'll show you three retail stocks that are beating the odds. And I'll show you how to go about betting on the ongoing "retail apocalypse"… "Going the Way of the Woolly Mammoth"Over the past 10 years, online retail sales growth has outpaced non-online retail sales growth in the U.S. by 7 to 1, more than doubling as a percentage of total retail sales.The "Amazon-ification of commerce" has crushed the brick-and-mortar retailing industry from coast to coast.Amazon (NASDAQ:AMZN) just hired hundreds of thousands of new workers during a period when millions of Americans filed for unemployment. And on the other side of the epidemic, a large percentage of folks who have boosted their online shopping activity will maintain a higher level of online commercial activity than they did before the epidemic.Clearly, Amazon is a net winner from the crisis -- as it always seems to be.But Amazon and Covid-19 aren't the only destroyers of conventional retailing.Some retailers like Lululemon Athletica (NASDAQ:LULU) have developed robust online sales channels to complement their select brick-and-mortar locations. This "omnichannel" approach is producing great success for a few savvy retailers.And Kroger (NYSE:KR) is demonstrating an impressive level of flexibility and innovation to revive its fortunes. The company's forward-looking team-up with Ocado Group PLC (OTCMKTS:OCDGF) to build robotic grocery warehouses around the country demonstrates its ambitious efforts to get out in front of changing consumer buying habits.But most brick-and-mortar retailers are failing to innovate. As a result, they are sinking slowly into irrelevance. These stores are going the way of the woolly mammoth.In 2019 alone, an estimated 12,000 retail stores closed. And the tally of store closures continues to grow by the day. Investment bank UBS estimates that U.S. retailers will shutter another 75,000 physical stores by 2026.Many leading retailers are showing a drop in revenue, while the very best companies are producing negligible revenue growth. Meanwhile, debt loads are soaring. These negative trends are weighing on stock prices throughout the retail sector.Source: Chart by InvestorPlace Although this downtrend is well established, it shows no sign of stabilizing or reversing. To the contrary, the sector continues to exhibit market-lagging performance. A Way to "Short Sell" Dead MallsLong before the coronavirus hit, e-commerce was growing rapidly worldwide. That's hardly a secret.According to Statista, retail e-commerce sales worldwide totaled $3.46 trillion in 2019 - nearly double the 2016 tally. And e-commerce volumes are on track to soar another 8.5% over the next three years, according to eMarketer.com.As online retailing gains momentum, it is taking a very visible bite out of traditional brick-and-mortar retailing. That's no secret either.Source: Chart by InvestorPlace Still, e-commerce represents less than 15% of total U.S. retail sales. That share is similar to the percentages worldwide.But e-commerce isn't just about destroying the old ways of retailing and taking market share. It is about establishing an entirely new mode of commerce.That's a big reason why "big box" retailers have been struggling for many years. Sears, Blockbuster, RadioShack, Circuit City, Borders, Sports Authority, and Toys "R" Us have all gone to retail heaven (or are almost there).Even before the coronavirus, many "best of breed" retailers were struggling to compete. During the last three years, revenues at Walmart (NYSE:WMT) have grown a meager 7%, while Amazon's have doubled.The coronavirus is supercharging this trend.That's why I recently recommended that members of Fry's Investment Report reestablish a position in an investment that allows them to bet against brick-and-mortar retail… and on the retail apocalypse.I first recommended this hedge trade back on Feb. 6. Less than two months later, as the stock market was cratering, we closed out that position for a gain of 43.8%.But I think this investment has further to go. After all, a rallying stock market does not change the fact that brick-and-mortar retail is facing a world of hurt.You can find out all about it by joining us here.If my analysis is correct, this investment will be a solid winner in a falling market, or a worthwhile hedge in a rising one.Regards,Eric FryP.S. Opportunities for extraordinary gains exist in any market, bullish or bearish. Some of the best stock traders in U.S. history made fortunes because of big moves they made while others sat on the sidelines during turbulent times. And I believe there are four companies you must buy right away to capture the biggest gains in the market going forward.You probably haven't heard of a single one of these firms… but I hope you'll listen. To date, I've found 40 investment opportunities in which folks could have made 1,000% gains or more following my recommendations. Check out my new presentation on what to buy now here.Eric Fry is an award-winning stock picker with numerous "10-bagger" calls -- in good markets AND bad. How? By finding potent global megatrends … before they take off. And when it comes to bear markets, you'll want to have his "blueprint" in hand before stocks go south. Eric does not own the aforementioned securities. More From InvestorPlace * America's 1 Stock Picker Reveals Next 1,000% Winner * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Betting On Retail Stocks At the End of the Brick-And-Mortar World appeared first on InvestorPlace.

  • Activision Will Ride the Shelter-in-Place Trade to New Highs
    InvestorPlace

    Activision Will Ride the Shelter-in-Place Trade to New Highs

    Activision Blizzard (NASDAQ:ATVI) stock has long been one of the best ways to profit from the rise of the video gaming industry. And that trend is enjoying a huge acceleration now.Source: madamF / Shutterstock.com In fact, thanks to the novel coronavirus, investors have been flocking into the so-called "SIP trades." These are the stocks that are most likely to benefit from the "shelter in place" orders in the United States and around the world.A few high-profile examples of SIP stocks include:InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Amazon (NASDAQ:AMZN), the online shopping titan. * Peloton Interactive (NASDAQ:PTON), the vendor of premium stationary exercise bikes. * Electronic Arts (NASDAQ:EA), publisher and distributor of video games. * Ocado Group (OTCMKTS:OCDGF), a pioneer of robotic logistics and home grocery delivery. * Netflix (NASDAQ:NFLX), the leading subscription video streaming company. * 30 Consumer Stocks to Buy Once the Coronavirus Pandemic Passes All five of these stocks share one enviable feature: They hit new all-time highs over the past week! Activision has not yet reached a new all-time high, but I expect it to do so before the year is out. That's because it benefits from the same desirable traits as these other five winning stocks. Already, Activision's shares have been heating up, and they should have more room to run in coming weeks and months. eSports Are BoomingOne year ago, I pinpointed a trend I believed would fuel a powerful, long-term investment opportunity. I called it the "Screen Time Megatrend," and highlighted the video gaming and eSports industry as one main beneficiary.Already, eSports have become increasingly well-known as a popular emerging pastime. Wealthy investors have plowed hundreds of millions of dollars into creating professional leagues around various video games. Cable TV channels have covered some of the bigger matches. Young gamers are making serious money, and it's become a real alternative to traditional sports. Even prior to the coronavirus and the ensuing shutdown of other professional sports for 2020, eSports were shaping up as a power player.Industry analysts expect a slight dip in eSports' momentum, at least on a professional level, due to the virus. Newzoo, for example, trimmed its eSports revenue estimate for 2020 from $1.1 billion to $1.05 billion as some live events have been canceled. However, the vast majority of the industry's events should proceed as planned.That's light-years ahead of other professional leagues, which risk seeing most of their revenues wiped out entirely for 2020 if they can't get games going again. And Newzoo doesn't expect the virus to affect eSports' long-term future; they see the eSports industry's revenues rising to $1.6 billion in 2023, making for a 50% gain in just three years. The Shelter-in-Place MegatrendThe coronavirus epidemic is supercharging the rise of video gaming and eSports. That's the main reason I'm excited about Activision. Gaming was already on a major growth spurt even before the coronavirus hit. Now with everyone cooped up at home, companies like Activision are having a fantastic opportunity to establish new traditions and habits with users. And it's not just young people gravitating to video games either; many adults are getting in on the fun as well.The "Screen Time Megatrend" I started talking about a year ago is virtually the same thing as the "Shelter-in-Place Megatrend" many folks are talking about now. No matter what you call it, the societal migration from face time to screen time is not simply a fad or a generational quirk. It is a fundamental societal change.Based on anecdotal evidence, the ranks of gamers worldwide has swelled significantly during the COVID-19 epidemic. Wall Street analysts agree. Morgan Stanley just reiterated its "outperform" rating on Activision Blizzard stock, noting that "[Video game] publishers continue to see increased player bases, engagement, and in-game monetization." Activision Blizzard Stock VerdictAfter the crisis passes, most of these new converts may reduce their gaming time. But they won't eliminate it. Activision has created tons of loyal new gamers during this crisis, and helped move up mainstream gaming adoption by many years. That in turn will funnel way more money into eSports leagues, gaming blogs, fan communities, and the rest of the ecosystem around digital entertainment.In other words, what Wall Street analysts call the "addressable market" of video gamers has probably increased by tens of millions of dollars during the last few months. And the amount of money to be made goes up sharply as well. We're not just talking about selling people a $49 disc once a year anymore. As gaming becomes a central passion for many people, they'll be willing to spend far more on the product. Activision, as an owner of much of the best intellectual property in the space, will be a big winner.And with its cash-rich balance sheet, Activision is ideally positioned to ride out this downturn and take advantage of opportunities both during the quarantine and once the economy starts to open back up again.Eric Fry is an award-winning stock picker with numerous "10-bagger" calls -- in good markets AND bad. How? By finding potent global megatrends … before they take off. And when it comes to bear markets, you'll want to have his "blueprint" in hand before stocks go south. Eric does not own the aforementioned securities. More From InvestorPlace * America's 1 Stock Picker Reveals Next 1,000% Winner * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Activision Will Ride the Shelter-in-Place Trade to New Highs appeared first on InvestorPlace.

  • U.K. stocks appear impervious to catastrophic data as FTSE 100 inches higher
    MarketWatch

    U.K. stocks appear impervious to catastrophic data as FTSE 100 inches higher

    British stocks nudged higher on Thursday, with data both from the U.K. and abroad showing the deterioration of the global economy due to the coronavirus shutdowns.

  • Moody's

    Kroger Co. (The) -- Moody's assigns Baa1 rating to Kroger's proposed senior unsecured notes

    Moody's Investors Service, ("Moody's") today assigned a Baa1 rating to The Kroger Co.'s ("Kroger") new senior unsecured notes. Kroger's Baa1 senior unsecured rating is supported by its large scale, leading market position vis-à-vis other traditional food retailers and diversified store format.

  • Reuters

    Amazon prepping to launch super-fast grocery delivery service in UK - The Grocer

    Online e-commerce giant Amazon.com Inc is preparing to launch an ultra-fast grocery delivery service in the United Kingdom, trade magazine The Grocer reported on Friday, citing suppliers. The project could involve making Amazon Fresh, Amazon's grocery delivery service, a free benefit of Prime in the UK instead of the monthly add-on fee or per-order charge it currently charges, the weekly magazine reported. Amazon was not immediately available to comment.

  • Reuters

    Uber Eats sees grocery orders jump in locked down Europe

    Uber Eats said orders for grocery delivery on its platform jumped 59% across Europe in March compared with February as countries locked down to fight the coronavirus, helping offset some of the impact of shuttered restaurants on demand. Uber Eats, which competes with the likes of Deliveroo, Takeway.com and Just Eat in online meal delivery, already offered alcohol and selected products from convenience stores. European general manager Stephane Ficaja said Uber Eats' store sign-up rate had doubled in March as convenience outlets looked for new channels to serve customers advised to stay at home to slow the spread of the virus.

  • If You Had Bought Ocado Group (LON:OCDO) Stock Three Years Ago, You Could Pocket A 454% Gain Today
    Simply Wall St.

    If You Had Bought Ocado Group (LON:OCDO) Stock Three Years Ago, You Could Pocket A 454% Gain Today

    Investing can be hard but the potential fo an individual stock to pay off big time inspires us. But when you hold the...

  • INTERVIEW: Food-X Technologies CEO Peter van Stolk on How to Make Grocery E-Commerce Profitable
    IPO-Edge.com

    INTERVIEW: Food-X Technologies CEO Peter van Stolk on How to Make Grocery E-Commerce Profitable

    By John Jannarone, IPO Edge Is it possible for grocers and markets to offer delivery at normal prices to consumers? Unfortunately, razor-thin gross margins along with high costs of additional labor and fleets make it extremely difficult to do so profitably. Even Amazon.com, Inc. appears to offer grocery deliveries at a loss - which is […]

  • For Once, Monoprix’s Owner Has Something Right
    Bloomberg

    For Once, Monoprix’s Owner Has Something Right

    (Bloomberg Opinion) -- As lockdowns shutter stores and keep consumers cooped up at home, there will be many losers from the outbreak of the Covid-19 virus. But there will also be a few winners.Casino Guichard Perrachon SA, the French supermarket operator that’s been a target for short-selling hedge funds, is emerging as a beneficiary, in line with other grocers seeing a frantic stockpiling of food on both sides of the Atlantic.While Casino’s complex financial structure has long been a source of consternation, there are some jewels in its highly leveraged crown. These are the Monoprix and Franprix chains, both of which have strongholds in Paris.Between its brands, Casino has more than 40% of the Paris market, compared with 11.5% nationally, according to Charles Allen, an analyst at Bloomberg Intelligence. Much of French capital is served by small supermarkets, such as Franprix, which average around 5,300 square feet. This format has been particularly strong over recent weeks, as Parisians, like city dwellers worldwide, don’t want to venture too far from their homes to stock up on groceries. And while Monoprix’s clothing range will be under pressure, demand for food has rocketed.Casino should be able to capitalize on a boom in home delivery too. The company sells through Amazon and it just began testing an online grocery service with Ocado Group Plc. Its online non-food business Cdiscount is also expanding its grocery offer, and may benefit from increased demand for all kinds of electronics as people are forced to work from home.But as ever with the company controlled by Jean-Charles Naouri, things aren’t straightforward. Despite the upswing, Casino on Thursday gave no guidance and suspended its three-year targets, saying the coronavirus pandemic makes predictions impossible. Although free cash flow before disposals improved, the company’s ability to deliver cash in France has been disappointing over the past couple of years. While frantic shoppers in today’s environment should give Casino a boost, its weak cash generation and high leverage shouldn’t be overlooked. Moves to sell and lease back stores over the past two years add rental payments to its financial obligations.Net debt in France fell from 2.7 billion euros to 2.3 billion euros in 2019, helped by the asset sales. But overall borrowings rose from 3.4 billion euros to 4.1 billion euros, after Casino used debt to finance the simplification of its structure in Latin America.What’s more, Casino has decided to hit pause on its disposal program as it grapples with “unprecedented demand,” both in its stores and online. Still on the list to be offloaded is the Geant hypermarket business.The company is in the midst of a 4.5 billion-euro divestment program, having struck 2.8 billion euros of deals so far. Of this, about 1 billion euros worth have been signed, but not yet completed. When these transactions cross the finish line, Casino should be able to repay bonds due in 2021 and 2022. Still, Casino must agree another 1.7 billion of disposals to reach its targets. It’s confident it will still achieve them in time and it’s done a good job so far, with a better-than-expected price just this month  from selling its Leader Price chain to German discount rival Aldi for example. But conditions could be rockier from here given the economic fallout from the coronavirus.The disposal program is important for both Casino and its parent Rallye, Naouri’s investment group. The proceeds are key for Casino to be able to  resume paying dividends, and Rallye, which owns 52% of Casino, is counting on them. The debt-laden Rallye agreed a restructuring plan with the French courts last month that gives it 10 years to pay back 2.9 billion euros.Although the shares initially fell as much as 7.75% on Thursday, they ended up 1.7%, cementing their outperformance over the past month. So investors seem convinced it will continue to benefit from the current crisis. But as long-time followers of  Casino know, even when the chips are looking up, there are always more spins to come.(Corrects Thursday’s share price move in final paragraph.)This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Nobody will starve in coronavirus crisis, says chairman of Britain's Ocado
    Reuters

    Nobody will starve in coronavirus crisis, says chairman of Britain's Ocado

    There is no shortage of food in Britain and nobody will starve during the coronavirus emergency, said the chairman of online supermarket Ocado who believes he himself has been infected. Britain's supermarket sector is dealing with unprecedented demand during the outbreak as consumers stock-up, fearing a prolonged period of isolation, while schools, pubs, cafes and restaurants have been forced to close. Rose, 71, who is also a former chairman and chief executive of clothing and food retailer Marks & Spencer, has been in self-isolation after suspecting he had contracted the virus.

  • Moody's

    Ocado Group plc -- Moody's downgrades Ocado's CFR to B2, upgrades senior secured notes rating to Ba2; outlook stable

    Moody's Investors Service (Moody's) has today downgraded to B2 from Ba3 the long-term corporate family rating (CFR) and to B2-PD from Ba3-PD probability of default rating (PDR) of UK online grocery retailer and technology-driven software and robotics platform business Ocado Group plc (Ocado or the company). Concurrently the rating agency has upgraded to Ba2 from Ba3 the rating of Ocado's GBP225 million outstanding backed senior secured notes due 2024. The outlook has been revised to stable from rating under review and the rating action concludes the review process initiated by Moody's on 3 December 2019.

  • Reuters

    PRESS DIGEST- British Business - March 20

    The following are the top stories on the business pages of British newspapers. - The European Central Bank has embarked on a 750 billion euros ($799.95 billion) bond-buying operation to support sovereign and corporate debt in the face of the coronavirus crisis. - Next Chief Executive Officer Simon Wolfson has said the retail industry is facing the toughest time since the oil crisis of 1973 but claimed the fashion chain could survive a 1 billion pound slump in sales.

  • Reuters

    Ahead of expected London shutdown, shoppers queue in the rain

    British shoppers were queuing around the block early on Thursday morning to buy basic goods such as bottled water and tinned goods ahead of an expected toughening of measures to contain the coronavirus outbreak. Reuters reporters saw more than 100 people queuing in the rain before the 7 opening of a large Sainsbury's store in Clapham Common, south of the river Thames, while a few miles away in Vauxhall queues snaked around another Sainsbury's store. Prime Minister Boris Johnson has joined the country's biggest supermarkets including Tesco, Sainsbury's, Asda and Morrisons in urging shoppers not to stockpile, but the pleas have fallen on deaf ears.

  • Bloomberg

    Ocado Suspends Website as U.K. Shoppers Stockpile Groceries

    (Bloomberg) -- Ocado Group Plc has temporarily closed its website as it struggles to cope with demand from shoppers trying to stockpile groceries.The U.K. online grocer closed its site until Saturday as it faces a “simply staggering amount of traffic” and is trying to catch up with orders. The site also won’t accept new customers for the time being because it wouldn’t be able to keep up.The closure will allow the company to “complete essential work that will help to make sure distribution of products and delivery slots is as fair and as accessible as possible,” Melanie Smith, chief executive officer of Ocado Retail, said in a statement.Growing fears about the new coronavirus pandemic have prompted stockpiling, even though the British government and grocers have reassured consumers that there is enough food to go around. Ocado said basket sizes have been increasing, with growth in the second quarter so far at twice the rate of the first. The website now has a system by which customers wait in line to be able to order.The stock traded 2.5% higher at 8:18 a.m. in London, bringing the five-day gain to 34%.Britain’s two biggest supermarkets -- Tesco Plc and J Sainsbury Plc -- have recently introduced limits of three items on grocery products in an effort to try to ease the pressure on their supply chains. Other grocers have also introduced rationing. Wm Morrison Supermarkets Plc said this week that it planned to hire more workers as it expands its home delivery service to meet demand.Ocado said its retail revenue had risen 10% in the 13 weeks to March 1. The real surge in demand came since then.(Updates with shares)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    PRESS DIGEST- British Business - March 19

    The following are the top stories on the business pages of British newspapers. - A review into whether executives at Britain's Lloyds Banking Group covered up a 1 billion pound ($1.16 billion) fraud is due to be completed by the end of the year, more than three years after it was commissioned. - The UK-listed drug group Ergomed Plc has announced it is working on a study of a potential treatment for COVID-19.