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How Ocado went from understated British grocer to an $18.4 billion tech giant, as the coronavirus pandemic confirms the future of grocery shopping is online

"Bots" are seen on the grid (or "The Hive") of Ocado's "smart platform" in Andover, Britain, on May 1, 2018.
“Bots” are seen on the grid (or “The Hive”) of Ocado’s “smart platform” in Andover, Britain, on May 1, 2018.

REUTERS/Peter Nicholls

  • As grocery stores worldwide experienced stockpiling, long lines, and health worries amid the coronavirus pandemic, millions of people turned to shopping online.

  • It has been a goldrush for the British company Ocado, an online-only grocery marketplace that also operates technology for supermarket giants worldwide.

  • Ocado was the best performing stock on the FTSE 100 in the second quarter of 2020, and, in May, Ocado raised over $1 billion to grow its services.

  • It is now betting big on its US expansion, hoping to convert Americans to grocery shopping online.

  • Huge challenges remain, though. Many Americans are still reluctant to buy food they can’t see in person, and some fear the current online pandemic-driven boom could prove a one-off.

  • Visit Business Insider’s homepage for more stories.

The coronavirus

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Levi’s Outlook for Revenue Growth And Margin Opportunities Appear Intact: Morgan Stanley

Levi Strauss & Co, an American clothing company known worldwide for its Levi’s brand of denim jeans, warned after its net revenue plunged over 60% in the second quarter that the effect of the coronavirus would negatively impact their businesses even in the second half of this year.

Net revenue declined 62% to $497.5 million, largely due to the temporary closure of company-operated, franchise and wholesale customer retail locations as a result of the COVID-19 pandemic, partially offset by the company’s e-commerce business which grew 25% for the quarter, with sequential month-over-month acceleration to nearly 80% growth for May, the company said.

The company recorded a net loss for the quarter of $364 million and an adjusted net loss of $192 million. Gross margin decreased 19.2 percentage points on a reported basis to 34.1%. Adjusted EBIT was a loss of $206 million.

The company also said that it

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Opportunities Created By COVID; 2020’s Most Profitable ETFs

This article was originally published on ETFTrends.com.

By Viktor Argonov, Senior Analyst at International Investment Firm

Exchange-traded funds (ETFs) and similar instruments such as exchange-traded notes (ETNs) have typically been the best strategies for long-term investment. Even generic funds such as SPY (which tracks the S&P 500 index) earned investors an average annual return of 10-11% since mid-20th century. An even greater revenue (around 15%) can be earned from specialized funds such as RPG, whose basket only includes stocks from companies with high growth rates.

However, COVID-19 has changed this. The indices plummeted in February and March, and, even though they have mostly recovered by now, they have not earned their investors significant profits yet. On the other hand, the pandemic has also caused the stock prices of many companies to rise, as the demand for their products increased. This was true of some ETFs as well, as they

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Leading Dutch F1 Ticket & Experiences Business Integrated Into Motorsport Tickets

The new platform releasing soon from Motorsport Tickets will offer a comprehensive solution to circuit and series owners as well as simplifying the whole customer experience.

Motorsport Network are investing in the future of ticketing and racing experiences, taking full control and integrating SportStadion, a leading Netherlands based motorsport tickets and experiences business into its existing Motorsport Tickets offering. This follows the earlier acquisition and integration of Bookf1 in January, which subsequently changed its name to Motorsport Tickets

Motorsport Tickets is the first choice of fans who want to experience the thrill of live racing all over the world. With a pan European presence, we offer all ticket and hospitality options for the Formula 1, MotoGP and World Endurance Championships, alongside the iconic Le Mans 24 hour and historic Isle of Man TT.

Fans buying from Motorsport Tickets also get greater value thanks to the unique benefits and bundles

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