Ocado in talks with potential new partners after warehouse closures

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โดย Yahoo Finance UK·Read original
Summary · why it matters

Ocado is in talks with potential new partners as it seeks to rebound after two major supermarket partners announced plans to shut robotic warehouses. The London-listed retail technology firm reported live engagement with potential partners in the US, and highlighted multiple new grocery prospects in North America, Europe, and its Asia Pacific region following the end of exclusivity agreements. Group revenues jumped 54% to £1.04 billion for the six months to May 31, heavily linked to £354 million in one-off fees from the proposed closures by Kroger in the US and Sobeys in Canada. Stripping out that impact, revenues were only 1% higher, while earnings before tax lifted to £17 million from a £173 million loss a year earlier. Chief Executive Tim Steiner said the first half saw accelerating international volume growth and strong commercial momentum, with the US a particular focus.

Impact on stocks 1

Consumer Staples · 1 stocks
Kroger Company
KR
▼ NegativeDemandrelevance

Kroger plans to close robotic warehouses with Ocado, reducing future demand for Ocado's services.

Theme Impact 1

Off-coverage companies 1

SobeysPrivate▼ Negative
Demandrelevance

Sobeys plans to close robotic warehouses with Ocado, reducing future demand for Ocado's services.

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