Check out our new Timeline feature to give you the latest updates on all the stocks you follow. Clickhere to set up your Timeline.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 358.50
Bid: 358.80
Ask: 359.20
Change: 2.70 (0.76%)
Spread: 0.40 (0.111%)
Open: 355.10
High: 359.30
Low: 353.30
Prev. Close: 355.80
MKS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Timelines are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Morrisons to stop deliveries from Ocado's Erith fulfilment centre

Thu, 28th Nov 2024 07:24

(Sharecast News) - Shares in grocery Ocado Group fell on Thursday after the logistics tech firm announced that Morrisons will cease using its customer fulfilment centre (CFC) in Erith for deliveries.

Morrisons, which currently shares fulfilment capacity with Ocado Retail at Ocado CFCs in Dordon and Erith, said it has decided to process a greater share of its online deliveries through Dordon and with in-store fulfilment.

Ocado Group, which owns 50% of Ocado Retail - with the other half owned by Marks & Spencer - said the decision was "helpful" as it gives Ocado Retail extra network capacity over the near term as it grows "robustly".

The company said Ocado Retail is approaching full capacity in its current network, so this decision provides "an attractive option" for the retailer.

However, not everyone was convinced. Dan Coatsworth, investment analyst at AJ Bell, pointed out that Morrisons' move followed decisions by several clients in the US and Canada to scale back expansion plans involving Ocado Group's facilities.

"The important takeaway from this announcement is that Morrisons is going to rely more on in-store fulfilment alongside the remaining Ocado centre. That's as big of a red flag as you can get for Ocado's business model," Coatsworth said.

On the plus side, Ocado Group's chief executive Tim Steiner said in a statement that the decision enables Ocado Retail to pursue short-term growth "without an expectation for additional capex".

"As Morrisons reduce their operations at Erith and build their volumes in other parts of the network we are working with them to ensure seamless continuity of service to their customers and to continue strong market share growth across the UK market with the Ocado Smart Platform."

Morrisons chief executive Rami Baitiéh said it would continue operations as usual with no impact to customers.

Ocado's share price was 2.3% lower at 317.40p by 1140 GMT.

More News
17 Dec 2024 07:57

LONDON BRIEFING: Bunzl predicts "robust revenue growth" next year

(Alliance News) - The FTSE 100 was called to open lower on Tuesday, as central banks in China, the US, Japan and the UK prepare to announce their interest rate decisions this week.

Read more
13 Dec 2024 09:13

LONDON BROKER RATINGS: Deutsche Bank raises St James's Place to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday:

Read more
11 Dec 2024 12:52

Grocery sales edge higher ahead of expected festive surge - NIQ

(Sharecast News) - Grocery sales ticked higher last month, industry research showed on Wednesday, ahead of a likely surge in the weeks leading up to Christmas.

Read more
11 Dec 2024 09:49

LONDON BROKER RATINGS: HSBC raises Reckitt; Goldman Sachs cuts Ashtead

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:

Read more
10 Dec 2024 09:15

UK grocers set for bumper Christmas and Tesco market share spikes

(Alliance News) - UK grocery sales surged as shoppers continue to stock up on premium products in the run-up to Christmas, numbers from Kantar showed on Tuesday.

Read more
6 Dec 2024 07:32

M&S Oxford Street refurbishment gets okay as boss blasts 3-year delay

(Alliance News) - Marks & Spencer Group PLC has been given the green light to demolish its flagship Oxford Street store, ending a fierce three-year planning battle over the art deco building.

Read more
5 Dec 2024 17:20

Housing secretary approves rebuild plans for M&S Oxford Street

(Sharecast News) - Marks and Spencer received approval from the Secretary of State for Housing, Communities, and Local Government to redevelop its Marble Arch store on Oxford Street, it announced on Thursday.

Read more
29 Nov 2024 17:01

LONDON MARKET CLOSE: FTSE 100 ekes out small gain as New York prospers

(Alliance News) - The FTSE 100 pushed higher in late trading to close narrowly in the green as US markets made ground in a shortened session.

Read more
29 Nov 2024 12:10

LONDON MARKET MIDDAY: FTSE 100 flat; "takeover juggernaut" lifts 250s

(Alliance News) - Stock prices in London were a touch higher on Friday, with the FTSE 100 more or less treading water, as trade lacked conviction on a combination of end of month calm and a lack of impetus from New York as markets there only re-open for a shortened trading day.

Read more
29 Nov 2024 09:46

LONDON BROKER RATINGS: Berenberg starts M&S at 'hold', Next at 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday:

Read more
28 Nov 2024 13:50

PRESS: M&S and Kingfisher eye Homebase store takeovers — Sky News

(Alliance News) - Marks & Spencer Group PLC and Kingfisher PLC are among the retailers eying possible takeovers of stores previously operated by Homebase, Sky News reported on Thursday.

Read more
28 Nov 2024 11:12

Kingfisher and M&S express interest in Homebase sites

(Sharecast News) - Marks & Spencer and Kingfisher have reportedly both expressed interest in taking over the sites of several Homebase stores after the DIY retailer fell into administration earlier in November.

Read more
28 Nov 2024 09:37

Ocado says grocer Morrisons to stop using London fulfilment centre

(Alliance News) - Ocado Group PLC on Wednesday said UK supermarket chain Morrisons will stop using one of two Ocado customer fulfilment centres that it currently uses, in favour of filling more customer orders from its own stores.

Read more
21 Nov 2024 16:22

UK dividends calendar - next 7 days

Read more

Free Investment Tools

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.