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☆ UK retail sales slide again in October in new blow for economy
▼ + stars: | 2023-11-17 | by ( Andy Bruce | ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Nov 17 (Reuters) - British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home, official data showed on Friday in a new warning sign for the economy. Retail sales volumes dropped 0.3% month-on-month, following a revised 1.1% decline in September that was worse than first estimated, the Office for National Statistics said. Economists polled by Reuters had forecast that sales volumes would rise by 0.3% on the month in October. Overall the figures fitted with the darkening outlook for Britain's economy, with economic growth stagnant and strong price pressures now fading, albeit slowly. The figures also showed a small downward revision in retail sales for the third quarter.

Persons: Phil Noble, Spencer, James Davey, William James Our Organizations: Shoppers, REUTERS, National Statistics, Reuters, Investors, Bank of England, Retailers, Britain, Tesco, Thomson Locations: Altrincham, Britain

☆ Britain's Ocado secures first deal beyond grocery retail
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. It also holds a 50% share of Ocado Retail in the UK in a joint venture with Marks & Spencer (MKS.L). The deal with McKesson will see Ocado receive upfront fees during the construction process with the final payment upon final installation. Ocado said the impact of the deal will be minimal on cash flow and earnings in its current financial year. In July, the group reported a return to first half underlying profit.

Persons: Toby Melville, Canada Ocado, McKesson, Tim Steiner, we're, Spencer, Ocado, James Davey, Prerna Bedi, Shilpi Majumdar, Kirsten Donovan, Barbara Lewis Organizations: REUTERS, Kroger, Casino, Marks, Times, Thomson Locations: London, Britain, Canada, Ocado, United States, Japan, France, U.S, Bengaluru

☆ M&S echoes UK peers on early Christmas demand, Ahold looks to loyalty
▼ + stars: | 2023-11-08 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] A logo of food and clothes' retailer Marks and Spencer (M&S) is seen at a branch in London, Britain March 10, 2022. "We are definitely seeing good sales performance in our Christmas ranges," CEO Stuart Machin told reporters after M&S reported much better-than-expected first half results. BIGGER FAMILY CHRISTMASM&S's Machin said research showed about 20% of its customers wanted to stock up on Christmas food products "slightly earlier" this year, with most of those customers planning for a bigger family Christmas. Still, the retail bosses are hopeful of strong demand for food, drinks and presents from now until the end of December. Reporting by James Davey; Editing by Sarah Young, Kate Holton and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Marks, Spencer, Toby Melville, Ahold, Stuart Machin, S's Machin, I'm, Machin, James Davey, Sarah Young, Kate Holton, Emelia Organizations: REUTERS, Major, British Retail Consortium, Marks, Tesco, Accenture, Deloitte, PwC, Thomson Locations: London, Britain, Europe, United States

☆ Britain's M&S cautious on outlook after first-half profit beats expectations
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Jeans are seen for sale at Marks and Spencer, Hempstead Valley branch at the soon to be opened clothes branch of the store in Gillingham, Britain, June 1, 2020. But it cautioned the economic outlook remained uncertain and flagged the impact on the consumer from the highest interest rates in 20 years, deflation, geopolitical events, and erratic weather. "Therefore, against more challenging comparatives, we expect profit before tax and adjusting items to be weighted towards the first half, as we remain laser-focused on our long-term ambition to reshape M&S for future growth," it said. M&S reported profit before tax and adjusting items of 360.2 million pounds ($442 million) for the six months to Sept. 30, versus analysts' average forecast of 276 million pounds and 205.5 million pounds made in the same period last year. ($1 = 0.8149 pounds)Reporting by James Davey; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

Persons: Jeans, Dylan Martinez, Spencer, MKS.L, James Davey, Kate Holton Organizations: REUTERS, Marks, Thomson Locations: Marks, Spencer, Hempstead Valley, Gillingham, Britain

☆ M&S shares soar as first-half profit smashes forecasts
▼ + stars: | 2023-11-08 | by ( James Davey | ) www.reuters.com time to read: +3 min

SummaryCompanies First-half profit up 75%Cautions second half won't be as strongDividend restoredShares up 10%LONDON, Nov 8 (Reuters) - Marks & Spencer (M&S) expects full-year profit to leap more than 30% after an overhaul of its food, fashion and supply chain helped the British retailer smash first-half forecasts, sending its shares soaring on Wednesday. First-half profit jumped 75%, the dividend was reinstated as promised, and the company said shoppers were already snapping up its Christmas ranges. It now expects analysts' consensus forecast for annual profit to rise to 640 million pounds ($785 million) from 575 million pounds currently, versus 482 million pounds in 2022/23. M&S reported profit of 360.2 million pounds for the six months to Sept. 30, versus analysts' average forecast of 276 million. As flagged in May, M&S restored its dividend with a 1 pence interim payout, its first since 2019/20.

Persons: Spencer, Ian Lance, Stuart Machin, Dylan Martinez, Peel Hunt, James Davey, Kate Holton, Mark Potter Organizations: S's, Reuters, REUTERS, Revenue, Peel, Thomson Locations: British, Redwheel, Marks, Spencer, Hempstead Valley, Gillingham, Britain

☆ Walmart staffed up for holidays; US retailers cautious about economy
▼ + stars: | 2023-10-16 | by ( Siddharth Cavale | ) www.reuters.com time to read: +3 min

"We're staffed and ready to serve the customers this holiday season," Maren Dollwet Wagonner, senior vice-president of people, said in a LinkedIn postlast week. Walmart, like other retail chains, has been cautious in its holiday season outlook, saying customers are stressed by high food prices, depleted savings and higher interest rates. The statement from America's largest private employer with 1.7 million employees offered analysts insight into possible holiday shopping results. Except for Amazon, which plans to hire 250,000 holiday season workers, several other U.S. chains including Macy's have issued muted hiring plans for the period. While U.S. retail job applications are up 46%, job openings are down 25% and actual retail hiring is down by 12% in the year through September, according to talent acquisition company iCIMS.

Persons: Kamil Krzaczynski, sprees, We're, Maren Dollwet Wagonner, Andrew Challenger, Neil Costa, Walmart's, Spencer, Siddharth Cavale, Mark Porter, Richard Chang Organizations: Walmart, REUTERS, Challenger, U.S, Walmart's LinkedIn, Thomson Locations: Chicago , Illinois, U.S, Britain, New York

For his manager, Barrie Chapman, the overtime he now gets is a huge boost once unheard of in the hospitality sector. At its "Alcampo Lounge" venue in Brighton, staff can get a free meal per shift, flexible hours, bonuses, and overtime for salaried employees. "There's been a trend in hospitality to work staff hard, to not treat them very well, because there was always another person that would come in," said head chef Chris Lloyd-Rogers. "That's why people leave work, and it's what brings people back," Wilson said. Recruitment website Indeed said its regular survey of job seekers showed that the most highly valued benefits were flexible working and sick pay.

Persons: Josh Hughes, Davies, Barrie Chapman, Jen Eaton, Nick Collins, Eaton, Chapman, Hughes, Spencer, Britain's, Loungers, There's, Chris Lloyd, Rogers, Tony Wilson, Wilson, Sarah Findlater, Fiona Walters, Amit Puntambekar, Puntambekar, James Davey, Kate Holton, David Milliken, David Clarke 私 Organizations: Reuters, Amazon, Tesco, Global, Office, National Statistics, Britain, EU, Institute for Employment Studies, Organisation for Economic Co, IES Locations: BRIGHTON, England, Brighton, Britain, Cambridge, London

☆ UK retailers demand government action on rising crime
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Oct 1 (Reuters) - Some 88 UK retail leaders, including the bosses of Tesco (TSCO.L), Sainsbury's (SBRY.L) and Marks & Spencer (MKS.L), have signed a letter to interior minister Suella Braverman, demanding action over rising rates of retail crime. Rising crime is increasingly becoming a political issue in Britain ahead of an expected national election in 2024. It also put the scale of retail theft at 953 million pounds ($1.2 billion), despite over 700 million pounds in crime prevention spending by retailers. This would require police forces to record all incidents of retail crime. The industry also wants greater prioritisation of retail crime by police forces across the UK.

Persons: Peter Nicholls, Spencer, Suella Braverman, “, Helen Dickinson, John Lewis, James Davey, Alison Williams Organizations: REUTERS, Tesco, Industry, British Retail Consortium, Conservative, John, John Lewis Partnership, Waitrose, Aldi, Thomson Locations: Weybridge, Britain, Manchester

Reliance Retail is India's largest retailer and is led by Asia's richest person Mukesh Ambani. Of that, QIA last month announced a $1 billion investment and KKR & Co (KKR.N) this week $250 million. Reliance sold a 10.09% stake in its retail unit in 2020, valuing it at 4.68 trillion rupees ($56.4 billion). When ADIA invested in Reliance Retail in 2020, it said it was part of its strategy of targeting market leading businesses in Asia linked to the region's consumption-driven growth. Reliance Retail reported a consolidated net profit of 91.81 billion rupees ($1.11 billion) for the financial year that ended in March 2023, on revenue of 2.6 trillion rupees.

Persons: Singapore's GIC, Mukesh Ambani, QIA, ADIA, PIF, Marks, Spencer, Ambani, Sriram, Aditya Kalra, Yantoultra Ngui, Alexander Smith Organizations: Reliance, Asia's, Reuters, KKR, Co, Abu Dhabi Investment Authority, Saudi Arabia's Public Investment Fund, Reliance Industries, Reliance Retail, Unilever, Thomson Locations: MUMBAI, DELHI, DUBAI, Singapore, Abu Dhabi, Saudi Arabia, GIC, Asia

☆ Analysis: Investors call 'peak pessimism' for beaten-up UK stocks
▼ + stars: | 2023-09-13 | by ( Naomi Rovnick | ) www.reuters.com time to read: +6 min

"It feels like we've passed the peak of pessimism about the UK," said Daniel Lockyer, senior fund manager at 7 billion-pound investment and advice group Hawksmoor Investment Management, which increased its exposure to UK companies in August. Consumer stocks are outperforming as investors bet on the UK cost of living crisis becoming less intense. Reuters Graphics Reuters GraphicsLeigh Himsworth, UK fund manager at Fidelity International, said he was "trying to pick off UK retailers we can buy", while it was also "time to pick up some of the (UK) real estate sector." But while noting good economic reasons to call an upturn for UK stocks, fund managers also stressed the need for further steps from policymakers to revive interest in British equities. Premier Miton is lobbying policymakers to introduce a new tax-efficient investment vehicle for UK stocks.

Persons: Toby Melville, we've, Daniel Lockyer, Morningstar, Martin Walker, Walker, Samuel Tombs, Reuters Graphics Reuters Graphics Leigh Himsworth, Spencer, Neil Birrell, Premier Miton, Miton, Savvas Savouri, Naomi Rovnick, Dhara Ranasinghe, Sharon Singleton Organizations: London Stock Exchange, REUTERS, Inflation, LONDON, Apple, FTSE, Investment Management, Global, Reuters, Bank of England, Reuters Graphics Reuters Graphics, Fidelity International, Premier, Fidelity, Thomson Locations: Canary Wharf, London, Britain, U.S, COVID, outflows

☆ Food tech company ENOUGH raises 40 million euros
▼ + stars: | 2023-08-20 | by ( Sudip Kar-Gupta | ) www.reuters.com time to read: +2 min

Other participants in the fund-raising for Britain- and Netherlands-based ENOUGH included existing investors such as AXA IM Alts (AXAF.PA) and the Olympic Investments company of the Onassis shipping family. "ENOUGH has made great strides in the past few years to launch our new factory in the Netherlands and scale up to work with customers across the UK and Europe," said CEO Jim Laird, a former chief executive of plant-based meat producer Quorn. Companies involved in producing alternative-sources of meat and protein say they are helping in the battle to protect the climate, since meat from a laboratory has less impact on the environment than traditional farming. Nevertheless, there are signs that consumers' demand for plant-based meat may be waning, with Beyond Meat cutting its annual revenue forecast earlier this month. ($1 = 0.9194 euro)Reporting by Sudip Kar-Gupta; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Alts, Onassis, Spencer, Jim Laird, Quorn, Sudip Kar, Kirsten Donovan Organizations: World Fund, CPT Capital AXA, Investments, Unilever, Food, CPT, Foods, Britain, AXA, Alts, Olympic Investments, Companies, Thomson Locations: BRUSSELS, Netherlands, Europe

Official data showed sales volumes last month were 1.2% lower than in June. Food stores sales volumes fell by a monthly 2.6% while non-food stores sales volumes fell by 1.7%. However, July's data represented only the second time that sales volumes fell on a month-to-month basis so far in 2023, suggesting resilience in consumer demand. Market research firm GfK reported last month that consumer confidence fell in July for the first time since January. Retail sales volumes were 3.2% lower than a year earlier, the ONS said, compared with economists' forecasts for a 2.1% decline.

Persons: Sterling, Heather Bovill, Ruth Gregory, GfK, Samuel Tombs, BoE, Tombs, Spencer, James Davey, Kate Holton, Susan Fenton Organizations: Reuters, Office, National Statistics, Department, Bank of England, Capital Economics, Macroeconomics, Thomson

☆ Exclusive: H&M says it will "phase out" sourcing from Myanmar
▼ + stars: | 2023-08-17 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: 1 min

LONDON, Aug 17 (Reuters) - The world's second-biggest fashion retailer H&M (HMb.ST) has decided to gradually stop sourcing from Myanmar, it told Reuters on Thursday, as reports of labour abuses in garment factories in the country increase. H&M became the latest brand to cut ties with suppliers in the country after Zara owner Inditex (ITX.MC), Primark (ABF.L), Marks & Spencer (MKS.L) and others. "After careful consideration we have now taken the decision to gradually phase out our operations in Myanmar," H&M said in an email to Reuters. "We have been monitoring the latest developments in Myanmar very closely and we see increased challenges to conduct our operations according to our standards and requirements." Reporting by Helen Reid, Editing by Matt ScuffhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Inditex, Spencer, Helen Reid, Matt Scuffham Organizations: Reuters, Thomson Locations: Myanmar, Zara

☆ Exclusive: H&M probes Myanmar factory abuses as pressure intensifies
▼ + stars: | 2023-08-16 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +5 min

The BHRRC has been tracking allegations of workers' rights abuses in garment factories since the military junta took power in Myanmar, plunging it into political and humanitarian crisis. There have been 21 cases of alleged abuses linked to Inditex suppliers over the two-year period, and 20 linked to H&M suppliers, according to the report. The Myanmar Garment Manufacturing Association did not reply to a request for comment. It expects its final orders from Myanmar suppliers to ship before the end of this year, but has also increased its presence on the ground. H&M and Bestseller are among 18 brands that are part of the European Union-funded MADE project aimed at improving labour conditions in Myanmar's garment factories.

Persons: Inditex, Spencer, Primark, we've, Karina Ufert, Vicky Bowman, Bowman, Helen Reid, Vanessa O'Connell, Marguerita Choy, Emelia Organizations: Reuters, Zara, Human Rights Resource, Myanmar Labour News, Myanmar Garment Manufacturing Association, Ethical Trade, European Union, European Chamber of Commerce, Myanmar Centre, Responsible Business, Thomson Locations: Myanmar, British, MYANMAR Spanish, Danish

☆ Britain's M&S sees annual profit growth
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: 1 min

A logo of food and clothes' retailer Marks and Spencer (M&S) is seen at a branch in London, Britain March 10, 2022. REUTERS/Toby Melville/File PhotoAug 15 (Reuters) - British supermarket Marks and Spencer (MKS.L) said on Tuesday it expected profit growth for the year 2022-2023, with interim results likely to significantly improve against previous expectations. Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Marks, Spencer, Toby Melville, MKS.L, Yadarisa, Rashmi Organizations: REUTERS, Thomson Locations: London, Britain, Bengaluru

☆ Britain's M&S raises profit outlook after strong trading
▼ + stars: | 2023-08-15 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] A Marks and Spencer logo is seen on an advertisement outside of a store in London, Britain, May 23, 2018. The 139-year old group, whose shares have risen 66% so far this year, said it now expected profit growth in its full 2023-24 year, having previously forecast a small decline. Clothing group Next (NXT.L) upgraded its profit forecast earlier this month, lifting it for the second time in three months. M&S said in the first 19 weeks of the year like-for-like food sales grew over 11%, while clothing & home sales were up over 6% on the same basis. Clive Black at Shore Capital, the house broker, said sentiment around M&S had taken a long time to improve after other turnarounds failed to materialise, but he lifted his profit outlook by 9%.

Persons: Marks, Spencer, Toby Melville, Stuart Machin, Clive Black, James Davey, Yadarisa, Rashmi Aich, Kate Holton, David Evans Organizations: REUTERS, Marks, Shore Capital, Thomson Locations: London, Britain, Bengaluru

☆ UK stocks tumble as record wage growth spurs rate hike worries
▼ + stars: | 2023-08-15 | by ( Siddarth S | ) www.reuters.com time to read: +2 min

A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain, August 24, 2015. "Speed of wage growth will support the more hawkish end of the Bank of England. The exporter-heavy FTSE 100 index (.FTSE) declined 1.2% by the first hour of trading, while mid-cap stocks (.FTMC) also fell 0.7%. Life Insurance stocks (.FTNMX303010) fell over 2%, leading sectoral losses, dragged down by an over 3% drop in shares of British insurer Legal & General (LGEN.L). Most sectoral indexes were in the red after the wage growth data, while mid-cap stocks (.FTMC) also fell 0.7%.

Persons: Suzanne Plunkett, BoE, Richard Flax, Spencer, Siddarth, Rashmi Aich, Maju Samuel Organizations: London Stock Exchange, REUTERS, Legal, Bank of England, Money, Life Insurance, Thomson Locations: London, Britain, Bengaluru

☆ Ocado jumps after return to first-half underlying profit
▼ + stars: | 2023-07-18 | by ( James Davey | ) www.reuters.com time to read: +2 min

Ocado also said its Ocado Retail business, the online supermarket joint venture it operates with Marks & Spencer (MKS.L), returned to profitability in the second quarter. Shares in Ocado jumped 14.6% in early trading after what Jefferies analysts called a "solid" performance. It maintained its guidance for Technology Solutions to deliver "positive" EBITDA over the full 2022-23 year, with Ocado Retail making "marginally positive" EBITDA, and Logistics making "stable" EBITDA. "Speculation is speculation, I have nothing to say," Tim Steiner, Ocado's founder and chief executive, told reporters on Tuesday. ($1 = 0.7641 pounds)Reporting by James Davey; Editing by Kate Holton, Jason Neely and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

Persons: Ocado, Spencer, Jefferies, Tim Steiner, James Davey, Kate Holton, Jason Neely, Mike Harrison Organizations: Marks, Kroger, Casino, Technology Solutions, Ocado, Logistics, Times, Thomson Locations: Ocado, United States, Japan, France, U.S

☆ Ocado keeps guidance after return to first-half underlying profit
▼ + stars: | 2023-07-18 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummaryCompanies First half underlying profit 16.6 mln stgLosses at pretax level widen to 289.5 mln stgShares surged last month on takeover speculationLONDON, July 18 (Reuters) - Ocado (OCDO.L), the British online supermarket and technology group, kept its financial guidance for the year as it reported a return to underlying profit in its first half. However, at the statutory level Ocado's pretax loss widened to 289.5 million pounds from 211.3 million reflecting depreciation, amortisation and exceptional items. Ocado said there was no change to the financial guidance given at its full-year results in February. In the first half Technology Solutions was EBITDA positive, Logistics was flat and Ocado Retail made a small loss. The group maintained its guidance for Technology Solutions to deliver "positive" EBITDA over the full 2022-23 year, with Ocado Retail making "marginally positive" EBITDA, and Logistics making "stable" EBITDA.

Persons: Tim Steiner, Ocado, Spencer, James Davey, Kate Holton, Jason Neely Organizations: Times, Amazon, Ocado, Marks, Logistics, Technology Solutions, Kroger, Casino, Thomson Locations: U.S, United States, Japan, France

☆ Ocado jumps on return to first-half underlying profit
▼ + stars: | 2023-07-18 | by ( James Davey | ) www.reuters.com time to read: +3 min

The group swung to a profit for the six months to May 28, posting core earnings (EBITDA) of 16.6 million pounds ($21.7 million), ahead of a consensus forecast for a loss of 16 million pounds, and reversing a loss of 13.6 million pounds in the year-earlier period. Ocado (OCDO.L) said its Technology Solutions division made a profit for the first time, while its Ocado Retail business, the online supermarket joint venture it operates with Marks & Spencer (MKS.L), returned to profit in the second quarter. Shore Capital analyst Clive Black, a long term Ocado sceptic, focused on Ocado's losses at the pretax level, which widened to 289.5 million pounds. It maintained its guidance for Technology Solutions to deliver "positive" EBITDA over the full 2022-23 year, with Ocado Retail making "marginally positive" EBITDA, and its UK Logistics unit making "stable" EBITDA. The group's shares soared much as 47% on June 22 after the Times newspaper reported possible takeover interest from more than one U.S. suitor including Amazon (AMZN.O).

Persons: Spencer, Jefferies, Goldman Sachs, Tim Steiner, Ocado, Clive Black, Steiner, James Davey, Kate Holton, Jason Neely, Mike Harrison Organizations: Technology Solutions, Marks, Kroger, Casino, Shore Capital, Ocado, UK Logistics, Times, Thomson Locations: Ocado, United States, Japan, France, U.S

☆ Online's share of UK grocery market dips as heat pushes shoppers to stores
▼ + stars: | 2023-06-27 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies Online was 10.4% of total UK grocery market in JuneStores saw extra 34 mln visits year-on-yearM&S is fastest growing grocer after discountersLONDON, June 27 (Reuters) - Online's share of Britain's grocery market slowed further in June as hot weather encouraged shoppers to visit stores for drinks and refreshments, industry data showed on Tuesday. Online's share of the total grocery market in Britain was about 7% before COVID-19. "It’s no surprise that online grocery sales have taken a bit of a hit as there was less of a need to order in a big grocery shop." Total grocery sales rose 12.4% over the four weeks, with sales in the week to June 17 hitting 2.9 billion pounds - the second strongest week this year behind Easter. Marks & Spencer's (MKS.L) sales rose 15.4%, keeping its spot as the fastest growing after the discounters.

Persons: NIQ, Mike Watkins, NIQ’s, Kantar, James Davey, Aurora Ellis Organizations: LONDON, Aldi, Lidl, British Retail Consortium, Thomson Locations: Britain

☆ Shares of UK online supermarket Ocado soar on talk of Amazon bid interest
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 22 (Reuters) - Ocado Group (OCDO.L) shares surged by over 40% on Thursday after The Times newspaper reported speculation of possible bid interest in the online supermarket and technology group recently squeezed by a cost of living crisis in the UK. The Times noted there was talk of bid interest from more than one U.S. suitor including tech heavyweight Amazon (AMZN.O), pondering the merits of an offer worth 800 pence per share. Ocado declined to comment on either the stock's rise or the Times report. An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. Shares in Ocado rose as much as 46.7% and were briefly on track for their biggest one-day jump on record.

Persons: AJ Bell, Danni Hewson, Toby Melville, Ocado's, Ocado, Spencer, Danilo Masoni, James Davey, Muvija, Mike Holden, Susan Fenton Organizations: Ocado, The Times, Times, Amazon, REUTERS, Jefferies, Marks, Thomson Locations: U.S, London, Britain

☆ Britain's M&S the latest supermarket to cut prices
▼ + stars: | 2023-06-19 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies M&S cuts prices of 70 products, holds prices of 150Morrisons cuts prices of 47 productsMoves follow other reductions across sectorBank of England keeping close eye on food inflationLONDON, June 19 (Reuters) - Marks & Spencer (MKS.L) on Monday became the latest supermarket group in Britain to cut food prices, adding to signs that a surge in inflation is set to abate. M&S cut the price of 70 staple products, such as beef mince, Greek style yoghurt, salmon fillets, chickpeas and tortilla wraps, by between 3% and 25%. Also on Monday, Morrisons, Britain's fifth largest supermarket group, said it was cutting the prices of 47 products by an average of over 25%. On Friday, market leader Tesco (TSCO.L), said Britain's food inflation has peaked. EXPLAINER-Why is UK food inflation so stubbornly high?

Persons: Spencer, Rishi Sunak's, Kantar, James Davey, Kylie MacLellan, Susan Fenton Organizations: Bank of England, Morrisons, Tesco, Asda, Waitrose, Thomson Locations: Britain

☆ Retailers battle for uncertain back-to-school demand after ‘volatile’ quarter
▼ + stars: | 2023-06-06 | by ( Katherine Masters | ) www.reuters.com time to read: +5 min

[1/2] Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. U.S. shoppers' spending in the summer ahead of the college and K-12 school year has grown steadily since 2015, according to the National Retail Federation, a trade group. The chain is stocking Adidas' Samba and Gazelle sneakers ahead of the new school year, it said. The challenge for retailers is predicting whether parents will buy less clothing and sneakers when the cost of necessities - such as pencils, notebooks and laptops - strains many households. Retailers face a "volatile time," said Jessica Ramirez, a senior research analyst at Jane Hali & Associates.

Persons: Dado Ruvic, Locker, Spencer, hasn't, Ralph Lauren, Nordstrom, Doug McMillon, John David Rainey, Jessica Ramirez, Jane Hali, Moody’s, Moody's, Maxx, Martin Waters, Fran Horowitz, Jennifer Foyle, Abercrombie’s Hollister, URBN, Katherine Masters, Siddharth Cavale, James Davey, Gerry Doyle Organizations: Walmart, REUTERS, National Retail Federation, Ulta, Adidas, U.S . Commerce Department, Associates, Target, Moody's Victoria’s, Abercrombie & Fitch, Urban Outfitters, Abercrombie, Fitch, Free People, Thomson Locations: Britain, U.S, North America, New York, Bentonville , Arkansas, London

☆ Ending the retailers’ crisis has a high price tag
▼ + stars: | 2023-05-02 | by ( Aimee Donnellan | ) www.reuters.com time to read: +5 min

BARCELONA, May 2 (Reuters Breakingviews) - High-street retailers are facing a heavy bill to weather the cost-of-living crisis. The cost of heating stores and staff requests for pay rises are squeezing operating margins at top players like H&M (HMb.ST) and Next (NXT.L). Shrinking disposable income is making it hard for these retailers to boost sales to protect margins. Most bricks-and-mortar retailers trade on higher multiples than they did before the war in Ukraine sparked soaring inflation. But that leaves a squeezed middle of retailers like H&M exposed to the brunt of the retail crisis.

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