Ocado shares slide as Kroger takes ‘hard look’ at future of tie-up
Shares in pureplay grocer and technology firm Ocado dropped as markets opened on Friday, after major international partner Kroger said it would take a “hard look” at its automated warehouses.
Kroger interim chief executive Ron Sargent said it was conducting a “full site-by-site analysis” of its warehouse and distribution network. It said it would focus instead on fulfilling orders from stores to improve speed and efficiencies.
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