Nectar dispensary financial statement9/24/2023 ![]() ![]() It said there was a "clear pathway" to continue driving underling earnings at the division. The group's retail arm, run as a joint venture with Marks & Spencer, posted A underlying losses of GBP2.5 million overall in the six months to May 28, though Ocado said it delivered underlying earnings in each month of the second quarter. ![]() The company left its annual guidance unchanged from February Revenue rose 8.6% year-on-year to GBP1.37 billion from GBP1.26 billion, while its pretax loss widened to GBP289.5 million from GBP211.3 million. The firm reported its results for the half year ended May 28. However, the star grocery performer on Tuesday was Ocado, up 12%. Shares in Tesco and Sainsbury's both rose 0.4%. Over the 12-week period, Sainsbury's sales grew by 10.7%, edging out Asda and Tesco at 10.5% and 10.2% respectively. "This could signal a change in focus by the grocers who had been concentrating their efforts on everyday low pricing, particularly by offering more value own-label lines." It is the fourth month in a row that inflation has fallen from its peak of 17.5% in March.įraser McKevitt, head of retail & consumer insight at Kantar, said: "One of the biggest shifts we've seen in this area is retailers ramping up loyalty card deals like Tesco's Clubcard Prices and Sainsbury's Nectar Prices. Supermarket promotions helped the figure fall to 14.9% in the four weeks to July 9, down from 16.5% over the previous month, according to analysts at Kantar. UK grocery price inflation has seen the biggest drop since its peak in March but remains "incredibly high", figures showed. Against the yen, the dollar was quoted at JPY138.41, down versus JPY139.11. The euro traded at USD1.1255, higher than USD1.1231. Sterling was quoted at USD1.3093 early Tuesday, higher than USD1.3080 at the London equities close on Monday. The dollar was weaker in early exchanges in Europe. The Cboe UK 100 was marginally lower at 739.01, the Cboe UK 250 was up 0.3% at 16,202.51, and the Cboe Small Companies was up 0.2% at 13,448.20. (Alliance News) - Stock prices in London opened in the green on Tuesday, boosted by some well-received company updates.
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