It’s been years in the making – and today Ocado could finally bask in the limelight of its first international deal.
But a bright start to the day quickly turned cloudier as far as its share price was concerned.
Ocado surged to the top of the FTSE 250 in early trading as shares jumped 5% to 338p, but by midday, that price had slumped as low as 305.1p.
This morning’s rally suggested that the market had reacted positively to the deal Ocado has struck with an unnamed “regional” European partner.
But with uncertainty surrounding the size of its new business bedfellow, and whether it will go on to use Ocado’s all-singing, all-dancing warehouse technology, has perhaps dampened initial enthusiasm.
Ocado has reaffirmed its belief that this is the first of many international deals, but the pressure remains on chief executive Tim Steiner and his board to deliver a truly transformation tie-up.
Today, we take a look at how Iceland’s ‘Power of Frozen’ campaign, new store formats and food innovation also played a key part in its success.
And following the horrific terrorist attack on London on Saturday night, we also analyse the security steps retailers should be taking to protect shoppers from the threat of terrorism.
Today in numbers
The slump in profits suffered by Sir Philip Green’s Arcadia business in its full year results.
The sales raked in by Iceland in the year to March 24 − up 4.4% compared to the previous year.
A busy day in the City includes full-year results from AO.com and a pre-close trading update from Joules, while the BRC publishes its latest retail sales figures.
Luke Tugby, head of content