85 567
Fashion Jobs
TREK
Service Manager
Permanent · CENTERVILLE
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 12 Hrs - Fashion Outlets Niagara Falls - Niagara Falls, NY
Permanent · NIAGARA FALLS
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 20hrs - Tejon - Arvin, CA
Permanent · ARVIN
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 20hrs - Tanger Outlet Center Midway - Rehoboth Beach, de
Permanent · REHOBOTH BEACH
AVEDA
Keyholder - Aveda - 25 Hrs - Kenwood - Cincinnati, OH
Permanent · CINCINNATI
MACY'S
Asset Protection Detective, FT Myers - Full Time
Permanent · FORT MYERS
MACY'S
Fulfillment Associate, Portland - Full Time (2550)
Permanent · PORTLAND
MACY'S
Asset Protection Detective, Roosevelt - Full Time
Permanent · PHILADELPHIA
MACY'S
Asset Protection Security Guard, Center City - Flex
Permanent · PHILADELPHIA
MACY'S
Asset Protection Security Guard, Center City - Part Time
Permanent · PHILADELPHIA
MACY'S
Asset Protection Detective, Market Place - Full Time
Permanent · CHAMPAIGN
MACY'S
Asset Protection Detective, Barton Creek Square Mall - Part Time
Permanent · AUSTIN
STAND OUT FOR GOOD
Brand Rep (Sales Associate)
Permanent · EAST RUTHERFORD
UNIVERSITY OF NORTH FLORIDA
Apex Accelerator Coordinator
Permanent · JACKSONVILLE
JCPENNEY
Asset Protection Associate - Patrick Henry Mall
Permanent · NEWPORT NEWS
RALPH LAUREN
Sales Professional Part Time-2
Permanent · OAK BROOK
RALPH LAUREN
Associate Manager
Permanent · JOHNSON CREEK
ADIDAS
Project Manager
Permanent · PORTLAND
ADIDAS
Sales Director
Permanent · TAMPA
LEE
PT Keyholder
Permanent · GRAPEVINE
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · WALPOLE
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · HOUSTON
By
Reuters
Published
May 17, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Ocado shares soar as it lands major deal with Kroger to enter the U.S.

By
Reuters
Published
May 17, 2018

Britain’s online supermarket Ocado clinched a game-changing deal with Kroger as its exclusive partner in the U.S., securing its entry into the world’s biggest market and sending its shares up 50 percent.


Photo: Ocado - Instagram



The agreement, Kroger’s response to the competitive threat posed by Amazon’s purchase of Whole Foods, takes Ocado’s home-delivery platform into the United States for the first time and marks the fourth major deal it has signed with supermarkets around the world in six months.

Ocado’s Chief Financial Officer Duncan Tatton-Brown said the partnership was “transformational”.
“The scale of the proposed transaction, and therefore the quantum of its economics, is wholly different to those we’ve already signed,” he told reporters on Thursday.

He said Kroger, which had sales of $122 billion in its last fiscal year, was the grocer best-positioned to succeed in the U.S. sector. It will now discontinue discussions with other U.S.-based retailers.
Shares in the group, which listed in 2010, jumped over 50 percent in early Thursday to trade at a record high.

As part of the deal, Kroger will take a stake in the British company, equivalent to 5 percent of the existing share capital valued at 183 million pounds, Ocado said.

“We think this is just about as positive a deal as could have been expected to have been announced by Ocado,” analysts at Barclays said.

“The company now has an extremely credible partner in the largest grocery market in the world.”
Ocado’s technology automates the processing and packing of online grocery orders, using hundreds of robots in technologically advanced order fulfilment centres.

Kroger will identify at least 20 sites to build new, automated warehouse facilities in the United States, Tatton-Brown said, more than all of the facilities Ocado has built or is planning to build for all its other partnerships to date.

The two companies are working to identify the first three sites in 2018, the company said.
Tatton-Brown said the detailed financial terms still had to be agreed, but the deal was expected to be neutral in respect to earnings in the full-year 2018.

© Thomson Reuters 2024 All rights reserved.

Tags :
Retail