Morrisons has formally completed its tie-up with Ocado, opening the door for the Bradford-based grocer to sell food online.
The deal has already had the go-ahead from Ocado’s shareholders, and will enable Morrisons to utilise the online retailer’s technology as well as a sale and leaseback arrangement covering Ocado’s distribution centre in Dordon.
Morrisons will press ahead on plans to enter the online grocery market by the end of January.
The businesses inked the 25-year deal in May.
Shore Capital analyst Clive Black said Morrisons performance is improving. Black said: “Whilst Morrison’s is still losing market share, it is no longer reporting falling sales, as it was in calendar first quarter 2013, and the differential in under-performance has narrowed markedly; indeed the most recent market share data has reported Morrison’s performing broadly in-line with Asda and Tesco.”