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Regarding click and collect, I posted the link below on the Ocado board with these comments -
Click and collect would have to be done properly - that means using Myrmex technology - Ocado have a minority stake in the company.
The video in this reports shows how it works.
https://www.grocerydive.com/news/ocado-acquires-stake-in-robotics-startup-focused-on-click-and-collect-tech/587172/
I think that M&S have a big part to play promoting a click and collect scheme for Ocado Retail in the UK.
With all the spare retail space that M&S have in many of their stores, it should be easy to implement.
Also, M&S are keen to redeploy staff rather than making them redundant so this would be very attractive option from that point of view.
As capacity increases with the new CFC's this would be an obvious move forward to increase market share and also help considerably at busy times like Christmas when delivery slots are short.
Customers could have the best of both worlds with Ocado Retail click and collect sites at M&S Food halls.
They could self select fresh produce and anything else they needed in the M&S store and then pick up their Ocado Retail order on the way out.
M&S would have every right to claim that they could provide the largest range of groceries, under one roof, in the UK - that would be a game changer.
I don’t doubt the JV, far from it Carrington, the timing was perfect luck, and strategically critical regardless of pandemic, along with all the digital strategy-M&S aim for 40% digital sales participation is already paying returns.
My issue has always been how slow the JV has been to increase capacity and wasting 1m potential new customers who Ocado said they couldn’t serve.
Click and collect and personal shoppers is a massive opportunity together with catering food service for events.
M&S clothing launch 20 April 2021 is a good platform for pulling back lost customers, but iwik that strategy will be aggressive enough to double clothing sales through M&A in digital. I realise a merger is more likely between M&S and a large online clothing operator in a similar move as the food with Ocado JV.
I wish they would dissolve slowly the furniture to avoid inventory losses, I don’t believe there’s a future in it, and frankly I can’t recall any lucrative furniture company operating inside a diverse retail strategy.
The results 26 May will probably be no surprise to the city, KPI’s are of course constantly updated monthly to key investors and analysts, and they don’t like surprises, the chairman tho is extremely experienced and trusted by the city and M&S is very lucky to have his wealth of knowledge and considered advices.
The key on 26th needs to be about future forecasts and future opportunities, the change at M&S in strategy and intellectual capacity can deliver in digital and bricks, with lower operating costs.
Footfall will be strong LFL in the high street after this week and the measures will help forecasts and when travel opens the rest of M&S can too with its successful travel hub stores.
I would not be surprised with 11-14 b revenue 21/22, and a return to £300 m+ pre tax profit.
Nor would I be surprised with the SP doubling this year and market cap at £6b.
High street has significantly less competition in bricks and a dwindling Waitrose food presence.
Ocado JV +40% increase in capacity which Chilting mentions is welcomed and that revenue is further potential SP growth.
The JV is of course worth more than £750m so asset value could be supportive to any property losses in bricks.
Twists and turns ahead with business rate refund morality, divided, directors pay, M&A, bank winding up costs for current accounts, £4b borrowing, old sites, cappex, 3rd/4th covid waves, 3rd vaccines.
But I’m sure millions of people would now agree M&S is in a great position, and capable.
tbf Neil I can see beyond the temporary issue with cfc rollout - I will be looking to add if the shares get hammered on results day - this is a long term share for me and given that a lot of the major players have given up on the high street (JL debs etc) I can see MKS picking up footfall and increasing their business in the stores that remain - I think they will also increase market share food wise down the line with cfc's increasing capacity - I will keep the shares long term for the dividend which was always pretty decent pre covid anyway - all my current stocks are big dividend payers or were before covid so I am basing my portfolio on this and aiming to retire with dividend income via my ISA to supplement my other incomes
dyor etc
Regrettably that’s very true Carrington and a missed opportunity.
The more complex a company the less agile it becomes.
Lots more to come from Ocado Retail this year - new mini CFC has just opened at Bristol with 2 more large CFC's to open later in the year bringing an eventual 40% increase in capacity.
Also Ocado Retail are now accepting orders from new customers - the business has also returned to pre-pandemic levels of service with good slot availability and customers can change their orders up to 17.25 the day before delivery.
Yeah saw that based on ocado not being able to scale up on new warehouses thus losing potential footfall I think that's why BlackRock are sticking to their short position
Can you send link please Johnny?
Today's Sunday Times suggests dismal profits of 24 million and 5% hit on food - source House Broker Shore Capital