Ocado slides 17% as US partner Kroger closes robotic warehouses
Lucian Nemoiu
Shares in British online supermarket and technology group Ocado slumped on Tuesday after U.S. partner Kroger said it would close three automated warehouses in January, dealing a heavy blow to the Ocado investment story. Ocado stock closed down 17.4 per cent as the group also said its fee revenue would fall by about $50 million next year as a result of the closures, extending 2025 losses for the shares to 40.5 per cent. The group had a stock market value of 21.7 billion pounds ($28.5 billion)
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