Shares for British online grocer Ocado Group soared last week based on a Bloomberg report regarding “speculation of bid interest” from Amazon and other technology firms. Ocado Group has had a partnership with Kroger since 2018 in which they construct robotically-operated warehouses in the U.S.
According to a Supermarket News story, Ocado paused the rollout of its own new UK distribution centers after posting a record annual loss of more than $639 million. Due to the “challenging market,” Ocado said it expected to receive nearly 40% less than it hoped from Marks & Spencer, its partner in the UK venture.