Connect with us

Hi, what are you looking for?


Ocado stockpiles long-life products in case of no-deal Brexit


Ocado is stockpiling long-life products such as Italian beer in readiness for a no-deal Brexit but said it did not have enough warehouse space to build big reserves and could do little to mitigate the feared disruption to fresh food imports.

The online grocer was as ready as it could be, said the chief executive, Tim Steiner, with the obvious problem being that “you can’t store fresh food because it is fresh. It needs free-flowing ports to move from its country of origin to the UK.”

Steiner said that if Ocado wanted to store a month’s worth of inventory, it would need four times the amount of warehouse space it has.

Tesco has warned that shoppers could face temporary shortages of some fresh foods and higher prices if the UK fails to agree a deal. John Allan, the Tesco chairman, said a no-deal exit could trigger more than a month of disruption, and new import taxes on EU products could push up the cost of foods by 3%-5%.

Steiner said Ocado did not anticipate material changes in pricing but would have to “wait and see” what happened in the event of no deal.

Ocado updated investors on fourth-quarter trading at its Ocado Retail division, which is co-owned by its food partner Marks & Spencer. Sales increased by 35% to £580m in the 13 weeks to November as the business benefited from the boom in grocery home deliveries triggered by the coronavirus pandemic.

The company said underlying profits at its Ocado Retail division, which began delivering M&S food in September, were now expected to top £70m. It is the third time the company has increased its profits forecast in recent months.

With coronavirus restrictions curtailing the size of this year’s Christmas celebrations, Ocado said turkey was off the menu in some households, with beef joints and salmon being chosen as alternatives. For those sticking to the traditional Christmas dinner, smaller birds were the first to sell out compared with normal years, it said.

Read more:
Ocado stockpiles long-life products in case of no-deal Brexit

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Unemployment rate steadied in June, while job quality improved to its best in over a year, the Philippine Statistics Authority reported on Monday. Preliminary...


Follow us on Spotify BusinessWorld B-Side By Patricia B. Mirasol, Reporter speaking to Bernardo M. Villegas WITH EVERY CHANGE of administration comes the question of...


Click to enlarge. Click to enlarge.   Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience...


As the Aboitiz Group embarks on a Great Transformation towards becoming the first “techglomerate” in the country by 2025, the company’s power arm is...


Security Bank Corporation (PSE: SECB), one of the Philippines’ leading universal banks, has been serving retail, corporate, institutional, and MSME clients since it opened...


By Lourdes O. Pilar, Researcher THE Philippine economy likely grew at a slower pace in the second quarter as surging inflation may have affected...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


Instagram still holds the top spot for social media in terms of building brand reputation and expanding business potential. Every day, more and more...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.