Ocado Group Stock (OTC:OCDGF), Trade Ideas

Ocado, one of the largest pure online grocers in the world, operates in two divisions. Ocado Retail is the group's online grocery business in the United Kingdom, a joint venture with Marks & Spencer; it offers an extensive product range of over 55,000 items via its Ocado.com website and holds more than 15% of the U.K. online grocery market and approximately 2% of the total U.K. grocery market. Ocado Solutions is built on the Ocado Smart Platform, a modular, automated online retail fulfillment and delivery solution that involves the provision of software, fulfillment infrastructure, and support services to corporate clients for a variety of one-time and ongoing costs. OSP has allowed the company to work with some of the world's largest grocers, including Ocado's retail operation.

Ocado Group PLC

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32961330/intels-manufacturing-overhaul-aims-for-second-largest-foundry-spot-with-projected-revenue-over-20b" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Intel&#39;s Manufacturing Overhaul: Aims for Second Largest Foundry Spot with Projected Revenue Over $20B</a>
<ul>
<li>Intel Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) has had an eventful week so far, enlightening investors with significant turnaround updates.</li>
<li>On Wednesday, the company voiced plans to restructure its manufacturing business, likely to work like a separate unit and begin to generate a margin.</li>
<li>The chipmaker neither disclosed any timeline for the restructuring nor named a new external customer for the business as part of its foundry services.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32963420/airbus-eyes-controlling-a220-jet-costs-amid-pricing-pressure-from-suppliers-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Airbus Eyes Controlling A220 Jet Costs Amid Pricing Pressure From Suppliers</a>
<ul>
<li>Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) reportedly plans to control the costs of its loss-making A220 jet while supporting its supply chain.</li>
<li>The company is trying to reduce the production costs of its smallest jet but is grappling with pricing pressure from suppliers in the broader industry.</li>
<li>The latest news follows&nbsp;Boeing Co&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ba#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BA</a>) CEO Dave Calhoun&#39;s recent statement at the Bernstein conference, where he reportedly said that the company&#39;s progress on resolving supply chain problems has been &quot;frustratingly slow.&quot;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/06/32965001/european-drug-authority-raises-thyroid-cancer-safety-signal-for-novo-nordisk-drugs-including-hype" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">European Drug Authority Raises Thyroid Cancer Safety Signal For Novo Nordisk Drugs, Including Hyped Semaglutide</a>
<ul>
<li>The EU&#39;s drugs watchdog, the European Medicines Agency, recently raised a thyroid cancer safety signal for&nbsp;Novo Nordisk A/S&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/nvo#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NVO</a>) drugs, including the much talked semaglutide used in Ozempic and Wegovy for weight loss.</li>
<li>The safety signal indicates the EMA&#39;s monitoring of potential adverse events related to approved drugs but does not establish causation between the medicine and reported adverse events.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32962492/spirit-aerosystems-and-boeing-stocks-are-falling-premarket-heres-why" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Spirit AeroSystems To Stop Work At Kansas Plant As Workers Vote To Strike</a>
<ul>
<li>In response to the strike decision by&nbsp;Spirit AeroSystems&nbsp;employees represented by the International Association of Machinists and Aerospace (IAM) Workers, factory production will be suspended before the contract expires.</li>
<li>Spirit AeroSystems Inc is a subsidiary of&nbsp;Spirit AeroSystems Holdings Inc&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/spr#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SPR</a>).</li>
<li>The plant produces 70% of&nbsp;Boeing Co&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) narrow-body aircraft and defense and business jet structures.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/06/32963591/accenture-stock-falls-after-q3-earnings-heres-why" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Accenture Shares Fall After Reporting Underwhelming Q3 Earnings</a>
<ul>
<li>Accenture Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acn#NYSE">ACN</a>) shares are trading lower Thursday after it reported third-quarter results.&nbsp;</li>
<li>The company reported third-quarter FY23 revenue growth of 3% year-over-year to $16.57 billion, marginally beating the consensus of $16.56 billion.</li>
<li>New bookings increased by 2% Y/Y to $17.2 billion. Consulting revenues decreased by 4% Y/Y to $8.69 billion, and Managed Services revenues increased by 10% Y/Y to $7.87 billion.</li>
<li>Adjusted EPS of $3.19 beat the consensus of $3.04. Adjusted operating margin was 16.3%, an expansion of 20 bps. The gross margin expanded by 50 bps to 33.4%.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32963277/whats-going-on-with-lordstown-motors-stock-thursday" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Lordstown Motors Founder Relinquishes His Remaining Stake&nbsp;</a>
<ul>
<li>Lordstown Motors Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ride#NASDAQ">RIDE</a>) shares are trading higher after founder Steve Burns relinquished his remaining stake in the company.</li>
<li>The former CEO offloaded 581,000 shares on May 23 for an average price of 27 cents apiece, just before the startup executed a reverse stock split.</li>
<li>He sold another 200,000 shares for $3.74 each on May 24 and his remaining 591,752 shares for $4.99 on June 16.</li>
<li>Burns, who resigned as CEO in 2021 after the board found proof of inaccurate preorder statements, has sold about $66 million of stock through mid-June.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/06/32963743/rsv-vaccines-from-pfizer-and-gsk-gain-cdc-advisory-committees-favor-for-older-adults" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">RSV Vaccines from Pfizer and GSK Gain CDC Advisory Committee&#39;s Favor for Older Adults</a>
<ul>
<li>The US Centers for Disease Control and Prevention&#39;s (CDC) Advisory Committee on Immunization Practices voted in favor of recommending the use of RSV vaccines from&nbsp;Pfizer Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) and&nbsp;GSK plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsk#NYSE">GSK</a>) for older adults.</li>
<li>The panel didn&#39;t go so far as to recommend it for everyone in the age group, citing that patients should first talk to their doctor, partly because the studies didn&#39;t enroll many people at the highest risk for severe disease.</li>
</ul>
&nbsp;
Wall Street Journal&nbsp;
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/32963419/activist-investor-pressures-nrg-energy-to-change-ceo-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Activist Investor Pressures NRG Energy To Change CEO</a>
<ul>
<li>NRG Energy Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nrg#NYSE">NRG</a>) is facing pressure from the activist investor&nbsp;Elliott Investment Management&nbsp;for expelling its Chief Executive Officer (CEO), Mauricio Gutierrez.</li>
<li>Elliott is reportedly talking to potential candidates for replacing NRG CEO and other top executives.</li>
<li>Last month, Elliott acquired a 13% economic interest (around $1 billion) in the company and stated its motive to restructure the board and initiate cost-saving measures and a strategic review of Vivint, the home services unit of the company.&nbsp;</li>
</ul>
&nbsp;
SCMP
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32960424/alibabas-post-reshuffle-strategy-emphasizing-the-role-of-small-businesses-amid-economic-slowdown" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Alibaba&#39;s Post-Reshuffle Strategy - Emphasizing the Role of Small Businesses Amid Economic Slowdown</a>
<ul>
<li>A day after its major management overhaul,&nbsp;Alibaba Group Holding Limited&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) President Chen Long emphasized the growing importance of small businesses and merchants.</li>
<li>He advocated a strategic business pivot formed by its founder Jack Ma.</li>
<li>Long reminded Alibaba&#39;s continued focus on small business as the backbone of its platform amid China&#39;s consumption slowdown on the sidelines of the Luohan Academy digital economy conference.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/06/32962297/following-roomba-acquisition-amazon-eyes-londons-ocado-for-next-major-tech-investment" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Following Roomba Acquisition, Amazon Eyes London&#39;s Ocado for Next Major Tech Investment</a>
<ul>
<li>Amazon.Com Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) and several other techs &quot;heavyweights&quot; weighed a bid worth 800p per share for&nbsp;Ocado Group PLC&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ocddy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">OCDDY</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ocdgf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">OCDGF</a>).</li>
<li>Ocado builds robots and software that help deliver groceries online.</li>
<li>&quot;A deeper consideration of the strategic logic and the actual likelihood of an official takeover approach will have to wait for more details,&quot; Bloomberg cites Jefferies analyst Giles Thorne.</li>
<li>Jefferies has had a hold recommendation on Ocado since at least December 2021.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32961621/jpmorgan-chase-appoints-teresa-heitsenrether-to-lead-new-ai-driven-data-and-analytics-unit" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JPMorgan Chase Appoints Teresa Heitsenrether to Lead New AI-Driven Data and Analytics Unit</a>
<ul>
<li>JP Morgan Chase &amp; Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) anointed Teresa Heitsenrether as head of a new data and analytics unit under its critical artificial intelligence push.</li>
<li>The appointment is effective immediately, Bloomberg cites an internal memo Wednesday from CEO Jamie Dimon and President Daniel Pinto.</li>
<li>Heitsenrether, who has been at JPMorgan for over 30 years, will continue to report to Pinto.</li>
</ul>
&nbsp;
Washinton Post
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32960304/apple-patches-security-glitches-in-iphones-and-ipads-protection-against-russian-hacking-attacks" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Patches Security Glitches in iPhones and iPads: Protection Against Russian Hacking Attacks</a>
<ul>
<li>On Wednesday,&nbsp;Apple Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) said it had fixed two new security faults in its iPhones and iPads that helped compromise thousands of devices in Russia.</li>
<li>Apple credited researchers from Russian security software maker Kaspersky Lab for discovering the glitches.</li>
<li>Apple said the fixes would protect iPhones running iOS 15.7 or earlier versions, which became outdated in September. More recent operating system versions had other improvements that made them impervious to the attacks.&nbsp;</li>
</ul>
&nbsp;
TechCrunch
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32961989/swipe-right-for-friendship-bumble-tests-standalone-app-for-pal-seekers" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Swipe Right for Friendship! Bumble Tests Standalone App for Pal-Seekers</a>
<ul>
<li>Dating app&nbsp;Bumble Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bmbl#NASDAQ">BMBL</a>) said it is testing a separate BFF app in select markets aimed at people &quot;looking for friend finding without being on&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/05/32127323/playing-the-dating-game-match-group-and-bumble-adapt-for-growth-analyst-adjusts-price-targets" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">a dating app</a>.&quot;</li>
<li>It plans to release this app in the U.S. in 2023.</li>
<li>Separate reports suggested Bumble trialing a new app in select geographies.</li>
<li>The free app has premium subscriptions for a week, three months, six months, and a lifetime.&nbsp;</li>
</ul>
Photo via Wikimedia Commons

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Intel Voices Plans To Restructure Manufacturing Business, Bumble's BFF App, Spirit AeroSystems To Stop Work At Kansas Plant Amid Workers Strike: Today's Top Stories

Amazon.Com, Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) and several other techs &quot;heavyweights&quot; weighed&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/06/32889753/roomba-maker-irobot-stock-shoots-higher-friday-whats-going-on-with-amazon-deal" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">a bid worth</a>&nbsp;800p per share for&nbsp;Ocado Group PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ocddy#OTC">OCDDY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ocdgf#OTC">OCDGF</a>).
Ocado builds robots and software that help deliver groceries online.
&quot;A deeper consideration of the strategic logic and the actual likelihood of an official takeover approach will have to wait for more details,&quot; Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-06-22/ocado-shares-soar-44-as-times-reports-rumored-bid-interest-from-amazon?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">cites</a>&nbsp;Jefferies analyst Giles Thorne.
Jefferies has had a hold recommendation on Ocado since at least December 2021.
Shares out on loan, an indication of short interest, represent about 15% of Ocado&#39;s free float as of Tuesday, per S&amp;P Global Market Intelligence.
Last week, The Competition and Markets Authority (CMA) cleared Amazon&#39;s purchase of Roomba maker&nbsp;IRobot Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irbt#NASDAQ">IRBT</a>).
iRobot designs and builds consumer robots, including robot vacuum cleaners sold under the &#39;Roomba&#39; brand. The CMA has concluded that the deal would not hamper competition in the U.K.
Price Action:&nbsp;AMZN shares traded higher by 0.34% at $125.25 premarket on the last check Thursday.

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Following Roomba Acquisition, Amazon Eyes London's Ocado for Next Major Tech Investment

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Benzinga's Top Ratings Upgrades, Downgrades For July 8, 2021

Bernstein initiates coverage on Ocado Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OCDGF#OTC">OCDGF</a>) with a Outperform rating.

Bernstein Initiates Coverage On Ocado Group with Outperform Rating

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Robotics, automation and artificial intelligence (RAAI) technologies stand to advance nearly every sector of the market, whether that&rsquo;s robots fulfilling orders on factory floors or taking over for doctors in performing surgeries.
In 2013, we created the ROBO Global Robotics &amp; Automation Index in an effort to benchmark all that RAAI has to offer to investors. Since then, the index has significantly outperformed global equities. In the past three years alone, it has brought an annualized return of 17.5 percent, compared to the MSCI AC World Index, which has grown 10.7 percent over the same period (cumulative as of Q1 2019).
In order to capture the full growth potential of RAAI, our index includes over 80 stocks across 12 sub-sectors in 15 countries. The Logistics Automation sector has outperformed all 11 other components by delivering total returns of more than 215 percent (also cumulative as of Q1 2019). Logistics represent one of the most promising industries for robotics and AI technology thanks to applications including warehouse automation, e-commerce fulfillment, inventory management, freight location management, supply chain digitization and autonomous mobile robots.
Additionally, increasing consumer demand for short delivery times has mandated that companies explore potential solutions offered by robotics and AI. Because every competitor in the retail space must now compete with e-commerce, the bar in supply chain efficiency has been raised significantly for all involved. Three of the most innovative companies driving development in logistics automation are detailed below.
Daifuku: Japanese company DAIFUKU CO. (OTC: DAIUF)&nbsp;is the largest logistics automation solutions provider in the world. It provides automated systems to operate warehouses in a variety of industries including automotive, electronics, general manufacturing and food and beverage.
While many other companies in the logistics automation sector focus on one type of solution, Daifuku offers the widest range available. What makes Daifuku even more interesting from an investment standpoint is the exposure it provides to the Asia market, particularly China. While many consider China and Asia to be the leaders in technological innovation, the level of adoption is actually quite low outside of Japan.
This, coupled with the popularity of online retail in China, positions Daifuku for continued success in providing the infrastructure that supports this demand and automates production. Additionally, Daifuku has recently acquired several companies in North America, expanding its reach even further. In the past three years, the company has had a 220 percent growth on total return.
Ocado: A U.K. company,&nbsp;Ocado Group PLC (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ocdgf#OTC">OCDGF</a>)&nbsp;emerged as the best-performing stock in the index for Q1, increasing by 77 percent. Originally an online grocery provider, it has now become one of the leading players in the industry in light of its cutting-edge technology for warehouse and logistics automation.
The company operates some of the most advanced order-fulfillment centers in the world. Last year, Ocado announced a deal to supply Kroger, the largest U.S. supermarket chain, with solutions to automate 20 fulfillment centers across the country, and in Q1 2019, Ocado closed a $1 billion deal to add the Marks &amp; Spencer brand to its grocery business. Over the last three years, Ocado has seen a total return of 350 percent.
Zebra Technologies: U.S. company Zebra Technologies Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zbra#NASDAQ">ZBRA</a>)&nbsp;has offered very strong investment performance for several years. It has become the global leader in track-and-trace technology, with products ranging from barcode printers and readers to RFID (radio-frequency identification) equipment and other supply chain automation solutions.
For example, Zebra Technologies has developed a&nbsp;system that digitally measures truckloads for optimal transport efficiency. Despite launching less than three years ago, this technology has already been deployed at more than 10,000 locations. In 2014, the company announced its acquisition of Motorola&rsquo;s enterprise business. At the time, this news had a largely negative effect on the stock, and performance was flat for a while. However, this became a turning point in the company&rsquo;s history and there was a catch-up effect for the stock. Zebra has achieved a 318 percent growth on total return in the past three years.
The level of expediency and efficiency that consumers now expect for product deliveries can only be achieved through logistics automation. The current market offers a great opportunity for investors because less than 10 percent of approximately 17,000 warehouses in the U.S. are fully automated. So while demand is clearly skyrocketing, adoption hasn&rsquo;t yet advanced past a very early stage.
Jeremie Capron is the director of research at <a href="https://www.roboglobal.com/">ROBO Global</a>, an index, advisory and research company focused on robotics, automation and artificial intelligence (RAAI).

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3 Innovative Companies Leading The Charge As Logistics Automation Accelerates

Ocado Group plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ocdgf#OTC">OCDGF</a>) and The Kroger Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kr#NYSE">KR</a>) announce that they have signed service and operational terms including how Kroger will order Customer Fulfilment Centres ("CFCs") and the basis on which Ocado will now develop and operate those sites. This is the future services agreement referred to in the announcement made on 17 May 2018.
Under the terms of the agreement, Kroger is expected to order 20 CFCs over the first three years of the agreement, and order the first three CFCs by the end of 2018. The terms and fee structure are similar to those for other transactions to-date combining up-front fees and ongoing capacity fees.
As with other recent deals, Ocado has agreed to install and maintain modules of Mechanical Handling Equipment ("MHE") sufficient to provide an agreed level of throughput. The target is for Kroger's CFCs to go live within approximately two years of each order being placed.
In order to expedite the opening of CFCs in the US, the first CFCs ordered in 2018 will have funding requirements similar to earlier deals.
The two parties remain committed to exploring value-neutral alternative structures that would result in a lower capital commitment per CFC by Ocado in order to ensure that future CFCs are funded in a way that makes best use of the funding capacities of both parties. Discussion on these revised payments terms has now started and a further agreement is expected to be announced in due course.
Further details on the location of the first three CFCs will be made public by Kroger within the next several weeks.
Expected financial impact for Ocado
Ocado expects the earnings impact of the Master Services Agreement to be neutral in FY18. Up to the point when the final funding structure has been finalised, Ocado will finance Kroger's CFCs in a similar basis to previous deals. We do not expect that this will involve more than the first three CFCs. The expected peak cumulative net outflow for Ocado of these initial three CFCs is £90m. With over £500m of financing headroom, Ocado has more than sufficient funds to cover this.
Luke Jensen, CEO of Ocado Solutions, said:
"We are delighted to have signed this services agreement with Kroger which sets out the key parameters for our working relationship going forward. The Kroger and Ocado teams have been working hard for some time to prepare for the opening of the first CFCs in the United States. We are very excited at the prospect of helping Kroger bring new services and value to its customers and transform the food retail market in the US".
Alex Tosolini, Kroger's Senior Vice President of Business Development, said:
"This is a significant step toward both solidifying our partnership with Ocado and redefining the Kroger customer experience. The alliance will bring to the U.S. Ocado's unparalleled innovation and technologies. This is exciting news and will help accelerate our vision to serve America through food inspiration and uplift."

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Ocado CEO Says No Discussions With Amazon Regarding Potential Offer -Reuters

Ocado Group PLC (OTC: <a class="ticker" href="/stock/ocdgf#OTC">OCDGF</a>) posted a profit in the full year. 
Ocado posted a pretax profit of 7.2 million ($10.8 million) for the year, versus a year-ago loss of GBP12.5 million. 
Its revenue climbed 20% to GBP948.9 million.
The company's customer base rose by around 70,000 to 453,000.

Earnings

Ocado Group Posts Full-Year Profit

Ocado Group PLC (OTC: OCDGF) swung to a profit from a year-ago loss. 

Ocado reported its profit at 2.09 million pounds ($3.33 million) in the first half ended May 15, compared with a loss of GBP6.71 million, in the year ago period. Its sales surged 20% y/y to GBP276.62 million, from GBP230.33 million. 

Ocado shares gained 2.18% to close at $3.01 on Friday.

Read more <a href="http://www.benzinga.com/markets/company-news">from Benzinga's Company news.</a>

Ocado Swings To Profit

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Ocado Group: A Strong Buy on Robust Operations and Technological Advancements

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In a report released yesterday, Wassachon Udomsilpa from RBC Capital maintained a Sell rating on Ocado Group (OCDGF – Research Report), with a pric...

RBC Capital Remains a Sell on Ocado Group (OCDGF)

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UBS Reaffirms Their Hold Rating on Ocado Group (OCDGF)

European losers of higher financing costs - JPMorgan

East 72 Dynasty Trust Q1 2024 Quarterly Report

Ocado Group plc (GB:OCDO) has released an update. Ocado Group plc has announced that its Chair, Rick Haythornthwaite, has made a substantial transa...

Ocado Group Chair Buys Shares Worth £99K

HSBC analyst Linda Shu maintained a Sell rating on Ocado Group (OCDGF – Research Report) yesterday. The company's shares closed yesterday at $4.59....

HSBC Keeps Their Sell Rating on Ocado Group (OCDGF)

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