Ocado to Receive $350 Million Payout as Kroger Shuts Robotic Warehouses
Britain's Ocado will receive a $350 million one-off payment from partner Kroger after the U.S. grocer opted to shut three robotic warehouses and scrap plans for another facility, the technology group said on Friday.
Shares in Ocado were up 6% at 0942 GMT, paring 2025 losses to 36%. The stock had plunged 17% on November 18 after Kroger reset its grocery e-commerce strategy, dealing a major blow to the Ocado investment story.
Kroger said the warehouses it built with Ocado at Frederick in..
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