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Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
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Share Price: 263.80
Bid: 263.70
Ask: 263.90
Change: 5.50 (2.13%)
Spread: 0.20 (0.076%)
Open: 261.90
High: 265.40
Low: 261.90
Prev. Close: 258.30
MKS Live PriceLast checked at -

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Britain's Ocado turns to electric and pedal power for Zoom service

Tue, 02nd Feb 2021 00:01

LONDON, Feb 2 (Reuters) - Ocado Zoom, the rapid grocery
delivery service owned by British online grocer Ocado Retail,
has launched a trial of electric, electric assisted and
pedal-powered vehicles as part of a target to become net zero
carbon emissions by 2035, it said on Tuesday.

Ocado Retail is a joint venture between Ocado Group
and Marks & Spencer.

It has thrived during the COVID-19 pandemic, reporting
fourth-quarter revenue growth of 35%, as the popularity of
online grocery shopping has soared.

Industry data shows the online share of grocery spending has
doubled from 7% before the crisis to about 14%. Shares in Ocado
have more than doubled over the last year.

Ocado Zoom's new vehicle trial started on Jan. 28 at its
flagship site in Acton, west London. It said initial customer
feedback has been "very positive".

"This trial is an important step in what I hope will be a
rapid expansion of our non-emitting fleet," said George Dean,
head of Ocado Zoom.

The vehicles' refrigeration capabilities means they can
travel up to 40 miles. More drop-offs during the same journey
results in a more efficient delivery service and fewer vehicles
on the roads.

Ocado said every delivery made in the zero-emission vehicles
replaces the need for the use of a petrol van, car or moped.

Launched in 2019, the Ocado Zoom service allows customers to
choose from a range of 10,000 products including fresh food,
baked goods, frozen items and household items.

Customers can choose if they want a delivery as soon as
possible or later that same day. Average delivery time is 40
minutes. Minimum order spend is 15 pounds and delivery typically
costs 2.99 pounds.
(Reporting by James Davey; editing by David Evans)

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