Ocado Group (GB:OCDO) has released an update.
Ocado Group has announced a pause on the scheduled 2025 launch of Sobeys’ automated customer fulfillment center (CFC) in Vancouver, Canada, intending to concentrate efforts on boosting order volumes across existing facilities. Despite this, both of Ocado’s North American partners, Kroger and Sobeys, have reported strong digital sales growth, with Ocado Retail being the UK’s fastest growing grocer. The company’s financial outlook for FY24 remains stable, with cash flow positivity targeted for the mid-term, although capital expenditure and commencement of capacity fees from the Vancouver site are deferred.
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