|Bid||1,235.50 x 109800|
|Ask||1,236.00 x 263500|
|Day's Range||1,232.00 - 1,273.00|
|52 Week Range||730.60 - 1,440.50|
|Beta (3Y Monthly)||1.22|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 9, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||985.69|
Investors seeking to preserve capital in a volatile environment might consider large-cap stocks such as Ocado Group...
Profit at Marks & Spencer is expected to fall for the third year in a row next week, with underlying sales poised to slip as the British retailer works through a painful "transformation plan". M&S set out on its latest turnaround, which follows a decade of failed reinventions, shortly after retail veteran Archie Norman joined as chairman in 2017 to work alongside Steve Rowe, who became chief executive in 2016 and has been with the company for almost three decades. M&S wants to make at least a third of its clothing and home sales online by 2022 and as part of its transition struck a 1.5 billion pound online food joint venture with Ocado in February, giving it a home delivery service from September 2020 at the latest.
Amazon.com Inc. is leading a $575 million investment in Deliveroo, buying a slice of the fast-growing startup and pitting it directly against Uber Technologies Inc. in a fiercely competitive European food delivery industry. Consolidation has been heating up in the food delivery sector. Deliveroo rival Takeaway.com NV agreed to acquire the German businesses of Delivery Hero SE for approximately 930 million euros ($1 billion) in December, while Uber was in early talks to buy Deliveroo, Bloomberg reported in September.
The following are the top stories on the business pages of British newspapers. The Times British sandwich and coffee shop chain Pret a Manger is in talks to acquire the rival Eat sandwich chain with a view to converting most of its 90-odd stores to the Veggie Pret brand. The Guardian Burberry Group PLC is closing one in 10 stores around the world as part of an overhaul designed to take the luxury fashion brand more upmarket.
British supermarket group Waitrose said on Thursday it plans to treble the size of its online grocery operation to a 1 billion pound business over three years and would build three new automated distribution centres to hit the target. Waitrose, part of the employee-owned John Lewis Partnership, will end its supply deal with online grocer Ocado in 2020. Ocado is instead partnering with Marks & Spencer.
Waitrose has announced a big expansion in its online activities in a riposte to its current partner, Ocado, which is ending its supply agreement with the supermarket chain in favour of a joint venture with Marks and Spencer. The grocer, which is owned by the John Lewis Partnership, plans to develop three new customer fulfilment centres in a bid to take its online food sales to more than £1bn a year, from their current £320m. It said it would work with Today Development Partners, a company co-headed by Jonathan Faiman, one of Ocado’s three original founders, and Mo Gawdat, the former chief business officer of Google’s innovation arm.
The midcaps gave up 1.3 percent, lagging the main index, whose losses were capped due to gains across so-called defensive stocks, which are deemed safer bets at times of economic troubles. U.S. President Donald Trump late on Wednesday accused China of breaking the deal they had reached in trade talks, while a rise in U.S. tariffs is set to be triggered on Friday. The U.S. is set to up the ante ... and that has prompted dealers to cut and run," CMC Markets analyst David Madden said.
The constant refrain in the tech world is that the world is about to be rockedby the combination of AI and robots
Supermarket chain Wm Morrison is considering expanding its relationship with Amazon and striking new partnerships with groups such as Uber Eats as it looks to boost its online service after paring back an exclusive delivery deal with Ocado. in 2013 that enabled it to break into the online grocery business. David Potts, chief executive, said the group’s plans “could certainly include doing more with Amazon”, which it has an existing relationship with, adding that Morrisons could now “dance at more than one wedding”.
British online supermarket pioneer Ocado has secured more operational capacity following a fire at one of its centres, after it agreed with partner Morrisons to take back sole use of one of its sites in London. The two companies said on Thursday that Ocado would have sole use of its newest customer fulfilment centre (CFC) in Erith, south east London, until January 2021. Ocado, which has championed online delivery since it was founded by three Goldman Sachs bankers in 2000, suffered a major fire earlier this year at its flagship robotic site in Andover.
British online grocer Ocado said on Thursday it has purchased a minority stake in robotics start-up Karakuri. Ocado said it has invested 4.75 million pounds for 18 percent of Karakuri and will take a seat on its board. Karakuri's technology centres around a new machine which automates the assembly of ready-to-eat meals.
Wm Morrison underperformed revenue expectations over the 13 weeks to May 5 due to slower-than-expected sales in its stores amid a “competitive and challenging” market, the supermarket group said on Thursday. In a separate announcement to the market, the company also revealed Ocado would no longer be Morrisons’ “exclusive digital partner”. Ocado currently delivers Morrisons online groceries.
Warehouse robots travel three times faster at Ocado Group Plc than at Amazon.com Inc., Peel Hunt wrote in a report on Friday. Analysts James Lockyer and Damindu Jayaweera said they were “underwhelmed” by the global giant’s automation investment after a visit to its warehouse in Tilbury, England, its largest and most technologically advanced in Europe. Ocado, whose market value is about a hundred times smaller than Amazon’s $936 billion, has gone from being Europe’s most shorted stock to one of its best performers.
Travel groups supported the main index as British holidaymakers drove demand for destinations further afield given the contortions over Brexit. London-listed shares of German tour operator TUI advanced nearly 3 percent to their highest since mid-February, while British Airways owner IAG and EasyJet added 2 percent and 1 percent, respectively. The world's oldest travel group, Thomas Cook, jumped 4.1 percent on the small-cap index.
British online grocer Ocado said a huge blaze which destroyed its major distribution centre in Andover, southern England, was caused by an electrical fault in a battery that caused a robot to catch fire. Shares in Ocado fell as much as 5.4 percent but recovered to be down 1.2 percent at 0845 GMT. Ocado has only a 1 percent share of Britain's grocery market.
The FTSE 100 and the FTSE 250 lost 0.6 percent each. Sainsbury's tumbled 4.7 percent to a near three-year low after the supermarket chain scrapped its proposed 7.3 billion pound takeover of Walmart-owned Asda after the deal was blocked by Britain's competition regulator. "The failure of securing a merger with Asda leaves the group in a bit of a vacuum, with leadership and strategic uncertainties the byproduct of the CMA's rebuttal," Jefferies analysts said.
The FTSE 100 was down 0.1 percent, with losses led by several stocks trading ex-dividend, while the FTSE 250 added 0.7 percent. Dublin's main index, considered a measure of Brexit sentiment, jumped 0.6 percent. The European Union granted Britain a six-month extension to leave the bloc, averting a disorderly exit on Friday and giving Prime Minister Theresa May more time to break the Brexit deadlock at home.
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The FTSE 100 added 0.3 percent, lagging behind European peers as Brexit uncertainties kept a lid on gains, while the FTSE 250 firmed by 0.5 percent. After British lawmakers on Monday wrested control of the parliamentary agenda from the government for a day in the hope of breaking the Brexit deadlock, two eurosceptic MPs indicated they might support Prime Minister Theresa May's EU divorce deal rather than risk parliament cancelling the exit.