Online grocer Ocado's stock market value has risen to £21.66 billion – briefly making it the UK's most valuable retailer, ahead of Britain's biggest grocery chain, Tesco.
But it is uncertain how long this boom in grocery delivery will last after overall UK online food sales fell nearly 5% between July and August.Grocery e-commerce service Ocado accounts for just a fraction of every pound spent on shopping in Britain, but is vying with supermarket group Tesco for the position of the country's most valuable retailer, having briefly overtaken its larger rival on Thursday.
Ocado is now worth twice the combined value of Sainbury's and Morrisons – Britain's second and fourth biggest supermarket chains - and has seen its share price double over the course of this year, thanks in large part to a surge in the number of people opting for online grocery deliveries since the outbreak of the coronavirus pandemic earlier this year.
Tesco is in the middle of a change in management this week. CEO Dave Lewis stepped down after six years and, from Thursday, will be replaced by Ken Murphy.in the quarter to August, with an average of 345,000 weekly sales.to facilitate online orders because of "exceptional growth" in sales.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside MatPat's Game Theory YouTube strategy and business: interview - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Boohoo doubles US sales, total sales at UK retailer top $1 billion - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Business Insider webinar on the race for a coronavirus vaccine - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Still struggling with forex trading or becoming A Profitable trader? I can help you invest in forex, without sending money to anyone, No need to pay for Signals, learn how to invest and generate income all by yourself. Inbox me for more info.📊📈 USA’s cultural traditions are proving deadlier since Spring Break parties in East & Southeast beaches caused hot spots of Covid19 in Spring 2020. Now Football, tailgating and Homecoming parades most likely bring Covid19 spikes this Fall. What is it with this cultural thing?
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside MatPat's Game Theory YouTube strategy and business: interview - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
A look at Trump's most failed businesses, according to his tax records - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Is this relevant to the Presidency , No! Business Insider is giving CNN a real run for their money So he is in better position to tell you how not to fail your business You want a toddler to handle the greatest nation on earth What do you smoke
Source: BusinessInsider - 🏆 729. / 51 Read more »
How to foster customer and brand loyalty for your business - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »