Ocado

Parents spent 12.5% less on school uniform year on year, with average spend down to £54.53, as households prioritised value and promotions. Overall grocery inflation rose to 2.3% and grocery sales increased 2% year on year, while shoppers made fewer supermarket trips. Ocado led growth with sales up 13.3% and a 2.2% market share; Lidl rose to 8.7%, Tesco dipped to 27.8%, and Asda returned to growth. » More on theguardian.com

Ocado has issued 871,451 new ordinary shares that have been admitted to trading on the London Stock Exchange. The allocations took place between 8 July and Sunday under the Ocado Share Incentive Plan and the Ocado Restricted Share Plan. After the issue, the total number of shares admitted to trading is 846,128,721; nominal value per share 2 pence, ISIN GB00B3MBS747. » More on de.investing.com

JPMorgan has raised its target price for Ocado from 245 to 290 pence and confirmed its "Overweight" rating. The analysts cite improved operational execution and point to a new contract for a customer fulfilment centre with a European retailer. Ocado shares rose by around 2.8% after the announcement. » More on de.investing.com

Tim Steiner has again extended the settlement dates for forward sale agreements covering a total of 10,000,000 Ocado shares in favour of his father, Nicolas Steiner. The third tranche (2,000,000 shares) was moved to 24 July 2027, the fourth to 24 July 2028, and the remaining three tranches (each 2,000,000) to 24 July 2029. No additional consideration is payable for the extensions; Tim Steiner retains beneficial ownership of the shares until completion, and the other contractual terms remain unchanged. » More on de.investing.com

Ocado reported pre-tax profits of £17m for the six months to 31 May, down from £607m a year earlier, sending shares nearly 15% lower to multi‑year lows. Tim Steiner, who will step down as CEO in 2028 and remain in a founder role through 2029, said he will not try to control a successor and will provide support and client continuity. The group expects to be cashflow positive by its year‑end in November and plans new robotised fulfilment centres in South Korea, Japan and Phoenix, with further UK capacity likely from 2028. » More on theguardian.com