Ocado Group PLC

Ocado Group Plc engages in the operation of online grocery supermarket. It operates through the following segments: Retail, UK Solutions & Logistics, and International Solutions. The Retail segment provides online grocery and general merchandise offerings to customers within the UK. The UK Solutions & Logistics segment reflects contracts with the Ocado Retail joint venture and Morrisons, inclusive of both solutions contracts and service agreements with Ocado Logistics for the provision of third party logistics and other services. The International Solutions segment deals with international partners for the provision of Ocado Smart Platform. The company was founded by Jonathan Faiman, Jason Gissing, and Timothy Steiner in April 2000 and is headquartered in Hatfield, the United Kingdom.

Ocado Group PLC (LSE:OCDO) has appointed IT and consulting veteran Adam Warby to be its new chairman. He will join the board as an independent non-executive director from tomorrow, 1 November, before assuming the role of chair on 1 December, when current chair, Rick Haythornthwaite, will step down from the board after four years at the head of the table.

Ocado's new chair points at effort to push into new sectors

Ocado , the British online supermarket and technology group, on Thursday named Adam Warby as its chair from Dec. 1, succeeding Rick Haythornthwaite.

Ocado names Adam Warby as new chair

Microsoft

A former Microsoft Corp executive has been tapped to replace Ocado Group PLC (LSE:OCDO)'s chairman from next month, according to a Sky News report. If confirmed, Adam Warby, whose LinkedIn profile also cites senior positions at private equity giant KKR and Microsoft IT partner Avanade, would replace existing chair Rick Haythornthwaite.

Ocado Group reportedly tapping former Microsoft exec as new chair

Virgin Wines UK PLC (AIM:VINO) has announced a new partnership with Ocado.com, allowing Ocado customers to buy individual bottles of wine from the Virgin Wines portfolio for the first time. Starting on October 2, 50 wines selected by both Virgin Wines and Ocado will be available through Ocado's platform.

Virgin Wines strikes Ocado deal

Although the magnitude of Ocado Retail's revenue upgrade wasn't large, the key point is the "exceptionally strong" growth for the past quarter, analysts said, showing the sort of growth that 50% owner and technology provider Ocado Group PLC (LSE:OCDO) can deliver for its third-party clients in other countries. The third-quarter update showed signs that "the business is executing well", with double-digit growth in sales volume important for both profit margins and for "broader sentiment", said Barclays analyst Sarah Roberts.

Ocado Retail's rapid recent growth is 'important reminder' of the power of its technology, say analysts

Ocado Retail has raised its full-year sales guidance after reporting improved revenue growth for the third quarter, driven by growth in customer numbers. The business, which is a 50-50 joint venture between Ocado Group PLC and Marks and Spencer Group PLC, said it now expects to grow its top line by a "low double digit" percentage up from its previous guidance of "mid-high single digits" growth.

Ocado Retail ups revenue guidance despite prices falling

British online supermarket Ocado Retail lifted its guidance for its 2023-2024 year after reporting a 15.5% increase in revenue in its latest quarter that reflected growth in customer numbers.

UK's Ocado Retail lifts guidance on customer growth

Next Thursday, 19 September, brings an update for Ocado Retail, the UK online grocery joint venture between Ocado Group PLC (LSE:OCDO) and Marks and Spencer Group PLC (LSE:MKS). It comes towards the end of what has been an up and down year for the JV, which started with a dispute between the two companies over payments, where Ocado said in February that it may need to sue after M&S said the JV failed to meet performance targets.

Ocado Retail update comes with short selling interest in online retailer still high

Lloyds Banking Group

UK stocks have gone nowhere in the past few months. The FTSE 100 index was trading at £8,235 on Tuesday, a few points above last week's low of £8,167 and 4.12% from its lowest level in August.

UK shares forecasts: Ocado, Lloyds, BT Group

Asda retained its status as the third-largest supermarket in the UK by volume in the September quarter, but the gulf between its and FTSE 100 rivals Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) continued to widen. Asda, whose chairman Stuart Rose recently said he was “embarrassed” by Asda's performance under the ownership of Mohsin and Zuber Issa, maintained a 12.6% market share in the 12 weeks to 1 September, according to the latest Kantar data.

Asda market share slips as Ocado outpaces brick-and-mortar rivals

Ocado Group PLC (LSE:OCDO) revealed that its two customer fulfilment centres for Australian client Coles Group Ltd (ASX:COL) went live in July in Melbourne and Sydney, apparently almost two years later than originally expected.  The two Australian warehouses, following another for Spanish retailer Alcampo in Madrid last month, brings the total of live warehouses to 25 across the globe.

Ocado rolls out two Australian warehouses over a year late

Ocado Retail has unveiled plans to begin trialling the use of refillable packaging for everyday products. Some food and laundry products will be pre-filled into reusable containers to ultimately be collected by delivery drivers once empty under the the Ocado Group PLC and Marks and Spencer Group PLC (LSE:MKS)-owned online supermarket's scheme.

Ocado rolls out refillable packaging in trial

Ocado (LON: OCDO) share price has continued to underperform the market as investors remain worried about its business and profits. It has crashed by almost 50% this year while the blue-chip FTSE 100 index has risen by about 4%.

Ocado share price analysis: a glimmer of hope emerges

BNP Paribas SA

[06/08/2024] Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful. [OCADO GROUP PLC] Post-stabilisation Period Announcement NO STABILISATION CARRIED OUT [Further to the pre-stabilisation period announcement dated [31/07/2024] BNP Paribas (contact: Stanford Hartman telephone: 0207 595 8222) hereby gives notice that no stabilisation (within the meaning of Article 3.2(d) of the Market Abuse Regulation (EU/596/2014)) was undertaken by the Stabilisation Manager(s) named below in relation to the offer of the following securities.

BNP Paribas Primary New Issues: STAB Notice - NO STAB - OCADO GROUP PLC

31/07/2024 Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful. OCADO GROUP PLC  Pre-stabilisation Period Announcement BNP Paribas (contact: Stanford Hartman telephone: 0207 595 8222 hereby gives notice, as Stabilisation Coordinator, that the Stabilisation Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation EU/2016/1052 under the Market Abuse Regulation (EU/596/2014).

Stabilization Notice - Pre Stab Notice - OCADO GROUP PLC

Ocado Group PLC (LSE:OCDO) shares have plummeted more than 6% after it revealed it had launched a bond raise in a bid to extend the maturity of its debt pile. An offering of £250 million was confirmed by Ocado, and will occur through guaranteed unsecured convertible bonds due in 2029, a company update revealed.

Ocado tumbles as it looks to extend debt pile maturity

Ocado, the British online supermarket and technology group, is extending the maturity of its debt by raising 600 million pounds ($771 million) in bonds due for 2029 repayment to finance a tender offer of existing bonds due in earlier years.

Britain's Ocado moves to extend its debt maturities

Ocado Group PLC (LSE:OCDO) boss Tim Steiner has confirmed plans to retain the company's stake in its online joint venture with Marks and Spencer (M&S). It comes as the Ocado Retail partnership approaches its five-year anniversary, a milestone that would allow either party to sell their shares to the other under certain conditions.

Ocado still all-in on M&S joint venture, says boss

Kroger

Ocado Group PLC (LSE:OCDO) has sold new robot technology to US grocery chain Kroger as part of their ongoing partnership, meaning fewer human workers will need to be used in its online grocery warehouses. The FTSE 250-listed group said Kroger has ordered a "wide range of new automated technologies" that "will bring new levels of efficiency and labour productivity".

Ocado upsells robot arm technology to US grocer Kroger

British online supermarket and technology group Ocado said on Monday its U.S. partner Kroger had placed an order for a wide range of new automated technologies to roll out in warehouses across its network.

Ocado partner Kroger orders new automated technologies

Ocado Group PLC (LSE:OCDO) (Ocado Group PLC (LSE:OCDO)) was reiterated as a 'buy' by Deutsche Bank after its full-year results yesterday Group revenue at the tech and delivery group of £1.54bn was ahead of the bank's forecast of £1.48bn “with a marked improvement in adjusted EBITDA to £71.2m (H1'23: 16.6m)”. All three divisions were profitable and posted significant improvements year on year, added the bank.

Ocado stil has some fans as Deutsche Bank repeats buy advice

It's faint praise from broker Shore Capital Markets, but Ocado Group PLC (LSE:OCDO) is showing “fewer poor metrics” in recent financial updates. The warehouse technology and grocery company has a growing share of the online grocery market and narrower first-half losses sent shares on a supersized 18% rally on Tuesday.

Ocado living on fumes despite showing ‘fewer poor metrics'

Ocado Group plc (OTCPK:OCDGF) H1 2024 Earnings Conference Call July 16, 2024 4:30 AM ET Company Participants Rick Haythornthwaite - Chairman Tim Steiner - Chief Executive Officer Stephen Daintith - Chief Financial Officer Mark Richardson - Chief Executive Officer, Ocado Intelligent Automation Conference Call Participants Marcus Diebel - JPMorgan Sarah Roberts - Barclays Tintin Stormont - Deutsche Numis Luke Holbrook - Morgan Stanley William Woods - Bernstein Giles Thorne - Jefferies Charles Allen - Bloomberg Intelligence Sreedhar Mahamkali - UBS Rick Haythornthwaite Very good. Good morning, everyone.

Ocado Group plc (OCDGF) H1 2024 Earnings Call Transcript

On Tuesday, Britain's Ocado Group (LON: OCDO) surprised the market by raising its annual guidance, attributing the adjustment to improved profitability in its warehouse technology business. This announcement reassured investors and sent Ocado's shares soaring by 18%, trading at 402 pence in early deals.

Ocado lifts annual guidance, OCDO shares jump 18% amid improved warehouse technology profitability

Ocado Group shares rebounded on Tuesday as the company reported a narrowing of its losses in the first half of 2024, after a downgrade by analysts saw the grocery delivery firm's stock price plummet earlier in the week.

News for Ocado Group PLC Stock (OCDDY)