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Ocado Group PLC Add to portfolio

LON100:OCDO, Aug 24, 11:50 UTC

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Monday, August 05


News

What to watch: HSBC boss out, FTSE falls, Ocado and Just Eat deals

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Here are the top business, market and economic stories you should be watching today in the UK, Europe, and abroad:. In an unexpected announcement as the the bank unveiled its interim results, HSBC said in a statement that Flint would be leaving the lender "by mutual agreement with the board." Flint has a 12-month notice period, but will stop his day-to-day responsibilities at group and help HSBC in the transition to find a replacement. Shares in Ocado (OCDO.L) were down 4.5% and Marks and Spencer (MKS.L) were down 6.3% after the companies sealed the deal on their joint venture.

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Marks & Spencer to launch online grocery service through Ocado - Birmingham Live

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You can read more in our cookie notice. Or, if you do not agree, you can click Manage below to access other choices. If you choose not to, you will still see adverts on our site, because they help us to fund it, but those adverts will not be tailored to you. Ocado and Marks and Spencer have completed their £750 million deal for the high street retailer to buy a 50% stake in the online supermarket's UK retail business. Steve Rowe, chief executive officer at M&S, said: "I have always believed that M&S Food could and should be online. The addition of Ocado to our family of businesses marks M&S's first truly transformational step in shaping our future as a digital first retailer, as we combine the magic of M&S food with Ocado's award-winning service to create a new and compelling proposition." The deal also officially brings together Ocado chairman Sir Stuart Rose and M&S, where he was chief executive and chairman, back together again.

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Thursday, August 01


News

Royal Bank of Canada Reiterates “Sector Perform” Rating for Ocado Group (LON:OCDO) – Mayfield Recorder

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Bank of America boosted their price objective on shares of Ocado Group from GBX 1,020 ($13.33) to GBX 1,630 ($21.30) and gave the company a buy rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Ocado Group has a one year low of GBX 730.60 ($9.55) and a one year high of GBX 1,440.50 ($18.82). The shares were sold at an average price of GBX 1,199 ($15.67), for a total transaction of £1,798,500 ($2,350,058.80).

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Thursday, July 25


News

Ocado Group’s (OCDO) “Buy” Rating Reiterated at Citigroup – Mayfield Recorder

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Ocado Group (LON:OCDO)‘s stock had its “buy” rating reiterated by Citigroup in a report issued on Wednesday, July 10th, Digital Look reports. Bank of America lowered their price objective on shares of 3D Systems from $10.00 to $9.00 and set an “underperform” rating for the company in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Ocado Group has a twelve month low of GBX 730.60 ($9.55) and a twelve month high of GBX 1,440.50 ($18.82).

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Wednesday, July 24


News

Kroger and Ocado Break Ground on America's Second High-Tech Customer Fulfillment Center

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GROVELAND, Fla., July 24, 2019 /PRNewswire/ -- The Kroger Co. (KR), America's largest grocery retailer, and Ocado (OCDO.L), one of the world's largest dedicated online grocery retailers, today broke ground on America's second customer fulfillment center (CFC), located in Groveland, FL – a new market for the retailer. "Kroger is excited to enter Florida to redefine the customer experience through our industry-leading partnership with Ocado," said Rodney McMullen, Kroger's chairman and CEO. "There's a substantial demand for Kroger products and services in the state, and we're eager to offer a new and seamless experience through the customer fulfillment center, leveraging advanced robotics technology and creative solutions to provide customers with anything, anytime, anywhere." "As they enter Florida for the first time, Kroger is breaking ground in more ways than one, and I am delighted to bring Ocado's world-class technology to its operations in such an important market. Our partnership is also creating exciting opportunities for technologists and engineers to work with Ocado's cutting-edge robotics and automation. As this site develops, we look forward to welcoming new talent to our skilled, dedicated and growing teams across the United States."

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Monday, July 22


News

Kroger Goes Full Robot to Take On Amazon

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(Bloomberg Opinion) -- Kroger Co., the giant but aging supermarket chain, has unleashed a flurry of initiatives to ensure it won’t get thumped in a post-Amazon-buying-Whole-Foods world: It is revamping locations, bought a meal-kit company, and sold off its convenience-store business. Grocery has proven a uniquely tough business to bring into the online era. Orders often have dozens of items – some frozen, some cold, some room temperature – and much of the inventory is perishable. Down the road, it’s not hard to envision even more labor costs getting stripped out of Ocado’s system, enhancing the model’s profitability. But timing is everything in the fast-changing online grocery world. And right now, Amazon and Walmart Inc. are leading the pack. Neither Amazon nor Walmart has a system with the exact sort of wizardry of Ocado’s; even so, each is exploring its own ways of using automation to help with profitability and customer experience. Overall, Kroger is better off for having partnered with Ocado. But I suspect it will turn out this arrangement doesn’t completely jolt the broader U.S. grocery industry the way it could have if it had been forged three or five years ago, before the competition had fully awakened to the e-commerce opportunity.

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Wednesday, July 17


News

Ocado’s share price rises on tech solutions segment

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Ocado’s [OCDO] share price closed almost 6% higher on Tuesday after the online grocery retailer’s H1 earnings release, as strong growth in partnership revenues and a reiteration of guidance overshadowed widening losses and a £110m write-down. Adjusted revenues for the period rose by 10.5% to £874m, while active customers grew by 9.7% to 679,000. But the firm had a write-down of more than £100m after a fire badly damaged its distribution centre in Andover, Hampshire in February; this was partially offset by an £11m insurance payout. Together with higher costs from its share-based compensation programme, the hit resulted in a pre-tax loss of £142.8m for the six months to June – significantly wider than the £13.2m loss a year ago – denting Ocado’s cash reserves. A 61% year-to-date climb in the share price has rewarded stock-pickers at Bailie Gifford’s Worldwide Discovery fund, where Ocado accounts for the biggest holding.

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Thursday, July 11


News

Ocado Group (LON:OCDO) Stock Rating Reaffirmed by Royal Bank of Canada – Trent Times

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Ocado Group (LON:OCDO)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a research note issued on Tuesday, Digital Look reports. They presently have a GBX 1,000 ($13.07) price objective on the stock. Citigroup increased their price target on shares of from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the company a “buy” rating in a report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company.

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Kroger and Ocado Name Georgia Location of High-Tech Customer Fulfillment Center

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ATLANTA, July 11, 2019 /PRNewswire/ -- The Kroger Co. (KR), America's largest grocery retailer, and Ocado (OCDO.L), one of the world's largest dedicated online grocery retailers, today announced plans for a new high-tech customer fulfillment center (CFC) in Forest Park, Georgia, a $55 million investment that will create more than 400 new jobs. Kroger has committed to building 20 CFCs, powered by Ocado, to accelerate its ability to provide customers with anything, anytime and anywhere. "Georgia has emerged as a hub for technology and innovation, and with access to our unrivaled logistics infrastructure and skilled workforce, I have no doubt that this new distribution center will allow Kroger to carry its operations to new heights." "On behalf of the governing body and residents of Forest Park, I want to thank Kroger and Ocado for trusting the great City of Forest Park with their investment. We look forward to nurturing and growing this relationship into a limitless future," said Forest Park Mayor Angelyne Butler. "In my State of the City Address, I told all present that 'It was a New Day in Forest Park' and it is our time to 'Operate in Our Promise.'

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What to watch: Google tax, Iran tensions, Virgin and Ocado Brexit warnings, and Bank report

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Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:. The French upper house will vote Thursday on a possible 3% tax on tech firms’ revenues in the country, which is expected to hit mainly US firms like Google, Amazon, and Facebook. Trump has ordered an investigation into the digital services tax, and new penalties could be imposed if it finds the French reforms are unjust. But France is planning the measures because it believes such big firms do not contribute enough tax for their huge size and revenue. "HMS Montrose was forced to position herself between the Iranian vessels and British Heritage and issue verbal warnings to the Iranian vessels, which then turned away," a British government spokesman said.

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