Ocado lands major Kroger Smart Platform deal

Kroger paying $247M to license Ocado online home-delivery technology

Shares in Ocado (OCDO) rocket 43% higher to 787.9p following the announcement of a tasty partnership with U.S. grocer Kroger, giving the online grocer-to-e-commerce tech licensor a foothold in the vast groceries market across the pond.

Ocado's shares soared by nearly a third to an all-time high after the online supermarket announced it will build as many as 20 robotic warehouses in the USA as part of a landmark deal with American supermarket giant Kroger that will significantly accelerate its plans to become a global supplier of white-label online shopping technology.

Kroger will pay monthly exclusivity and consultancy fees to Ocado, which will discontinue discussions with other USA -based retailers.

Kroger has almost 2,800 shops across 35 USA states and annual sales of $122bn in 2017.

Ocado said that it expects that the structure of the terms that it will agree with Kroger will be "broadly similar per CFC" to those agreed with its existing global partners: Groupe Casino, in France; Sobeys, in Canada; and ICA, in Sweden. The deal follows on from one with Canadian grocery chain Sobeys in January.

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

'It: Chapter Two' Casts James Ransone as Adult Eddie
Deadline has confirmed reports that James Ransone has been cast as the adult version of Eddie in the upcoming horror sequel. Meanwhile, Bill Skarsgard will reprise his role as Pennywise from the first movie.

Jurgen Klopp: Liverpool deserved 'crazy ride' to final
Liverpool manager Jurgen Klopp admits their run to the Champions League final has been a "crazy ride" but is well deserved. However, Klopp chose their 5-0 thumping of Porto as his highlight.

Gameplay Trailer | RAGE 2
Tim Willits of id Software said, "We have this novel approach: You buy the game and then you play it". Rage 2 doesn't have an official release date as of yet, but it's expected to debut in early 2019.

The agreement, Kroger's response to Amazon's purchase of Whole Foods, takes Ocado's home-delivery platform into the U.S. for the first time and marks the fourth major deal it has signed with supermarkets in six months.

Currently, the two companies are looking for suitable locations to establish three automated warehouse facilities. Ocado will also allow Kroger to use its online shopping and logistics technology.

As we work through the terms of the services agreement with Kroger in the coming months, we will be preparing the business for a transformative relationship which will reshape the food retailing industry in the United States in the years to come.

Rodney McMullen, chairman and CEO of Kroger, said the retailer is on a mission to develop new customer experiences by investing in technology.

Our partnership with Ocado will speed up our efforts to redefine the food and grocery customer experience - creating value for customers and shareholders alike.

Related:

  • RCom shares dip on insolvency plea

    RCom shares dip on insolvency plea

    Due to mounting losses, the company began to wind down its mobile operations from last November. The stock after making a weak opening further tanked 20 percent to Rs 9.95 on BSE.
    Employment conditions at record high

    Employment conditions at record high

    The number of hours worked rose by 1.1 per cent in April and was up 5.4 per cent over the year, the strongest annual gain in 18 years.
    Harry Styles producing sitcom loosely based on 1D days

    Harry Styles producing sitcom loosely based on 1D days

    He agreed to live with Ben and his wife Meredith for just a few weeks - but the arrangement ended up lasting for 20 months. Harry Styles will be overseeing a TV show based on his life.
  • N Parliamentarians concerned over Nawaz Sharif's narrative

    N Parliamentarians concerned over Nawaz Sharif's narrative

    Former premier is facing massive backlash from the from his opponents over his remark on the 2008 Mumbai terror attacks. He vowed to address the party lawmakers' grievances, and said he will talk to the PML-N supremo over the issue.
    Council Takes First Step to Enforcing Net Neutrality in San Antonio

    Council Takes First Step to Enforcing Net Neutrality in San Antonio

    But they wanted to also ensure that regulatory efforts didn't get in the way of innovation and quickly evolving internet services. Democrats argue that net neutrality is necessary to keep the internet free and give all companies an equal playing field.
    Son leads defence-heavy South Korea squad

    Son leads defence-heavy South Korea squad

    A 28-man roster for the upcoming World Cup, which kicks off in a month in Russian Federation , was announced on Monday. South Korea's two English Premier League stars Son Heung-min and Ki Sung-yueng made the cut as expected.
  • Congo's Ebola outbreak in 'new phase' after urban case

    Congo's Ebola outbreak in 'new phase' after urban case

    He said epidemiologists are working to identify additional contacts to the 500 already identified. The outbreak was first spotted in the Bikoro zone, which has 31 of the cases and 274 contacts.
    Waffle House hero: My call with Trump was 'lackluster'

    Waffle House hero: My call with Trump was 'lackluster'

    Police have hailed Shaw as a hero for grabbing the AR-15 rifle away from the shooter. Shaw said he was "just happy" to talk the to the president.
    IPD kicks off Special Olympics torch run

    IPD kicks off Special Olympics torch run

    Even though Oklahoma State University students have gone home for the summer, Stillwater is still buzzing with activity this week as it hosts the Special Olympics Oklahoma Summer Games.
  • YouTube Now Automatically Identifies, Credits Music Used In Videos

    YouTube Now Automatically Identifies, Credits Music Used In Videos

    Elton John said, "Songwriters are the heart and the soul of songs, so it's wonderful seeing them get the credit they deserve". Consumers are able to access the credits when they click the "Show More" button under each video.
    Juventus great Gianluigi Buffon afraid of retirement

    Juventus great Gianluigi Buffon afraid of retirement

    Saturday will be my last match with Juventus and I believe it will be the best way to conclude this adventure. The 2003 UEFA Club Footballer of the Year ends his career as the current Best FIFA Goalkeeper.
    Red Sox P Chris Sale seemingly mocks Cavaliers with 'Goon Squad' shirt

    Red Sox P Chris Sale seemingly mocks Cavaliers with 'Goon Squad' shirt

    Chris Sale couldn't quite harness his crackling fastball on this night, limited to five innings as his pitch count swelled to 102. Both scored on a double by Chapman, who drove a pitch from Rodriguez over the head of Mookie Betts in right field.

Comments

Latest news

Everything You Need to Know About the Royal Wedding Location — George's Chapel
He said the photographer veered in front of them, trying to get a clear shot. 'He would have moved heaven and earth to be there'. On Wednesday, Thomas Markle Jr, the brother of Ms Markle, visited Windsor to see where his sibling will marry Prince Harry .

100 points? I can not believe it - Guardiola marvels at super City
Swansea's relegation from the Premier League was confirmed when already demoted Stoke won 2-1 at the Liberty Stadium on Sunday. City's Gabriel Jesus scored a dramatic stoppage-time victor at Southampton.

Mothercare to shut 50 shops and restore CEO Mark Newton-Jones
He added that this has become more of an issue as the trading climate is now "so much more unforgiving". Mothercare will re-hire its former boss in a shocking U-turn as the company plans to shutter 50 stores.

Backstreet Boys are back with new single 'Don't Go Breaking My Heart'
"The minute we heard this song we knew it was special", says bandmate Kevin Richardson in a statement. Don't Go Breaking My Heart ", McLean tweeted on Thursday.

Pitt-Penn State game goes national
The Nittany Lions announced Wednesday that their visit to their arch-rivals in Pittsburgh on September 8 will kick off at 8 p.m. The Pirates, set to play the Miami Marlins on the same day at 7:05 p.m. changed the start time of their game to 1:05 p.m.

Hawaii born Broadway actress injured in tragic crash loses unborn baby
Miles' 4-year-old daughter, Abigail Blumenstein and another child - Joshua Lew, 20 months - were killed that day. And now she has lost the unborn baby that she was carrying at the time, in a tragic development.

United Kingdom cuts top stake on gambling machines to £2
Currently, people can bet up to £100 every 20 seconds on electronic casino games such as roulette. Shares in all three fell in early London trading on Thursday, with William Hill hit hardest.

Crude Oil Pauses Following Mixed Inventory Reports
The US withdrawal from the 2015 nuclear deal with Iran and promises of new sanctions on the country could also lead to increases. Currently, OPEC and non-OPEC producers have restricted themselves to 32.5 million bpd.

Miramar Map Is Now Available On PUBG Mobile
There are new Progress Missions as well which provide players with another opportunity to earn rewards after completing tasks. PUBG Mobile has been updated to version 0.5.0 for both iOS and Android and it's loaded with a load of new features.

$1.48 Billion in Sales Expected for Ascena Retail Group (ASNA) This Quarter
Crude oil prices were slightly higher on Tuesday , as Brent almost hit 80-per barrel, and then came off as traders took profits. But, we must be patient before we enter our trades, because sometimes the RSI can stay overbought or oversold for quite awhile.

Raquel Pennington's Coach Defends UFC 224 Cornering Decision
She had to do something huge, right? The biggest question for the Brazilian standout at the moment is who does she fight next? So when she said she wanted out, there was an overwhelming sense that her coaches were in the wrong to tell her otherwise.

Music Has Gotten Sadder in the Past 30 Years, According to Study
More recent songs with a low happiness index included Sam Smith's " Stay with Me " and "Whispers" by Passenger , both from 2014. The researchers emphasize that they were looking for the trends in the acoustic properties and the moods describing the sounds.

Anticipated $0.27 EPS for International Game Technology PLC (IGT) on May, 22
Information in this release is fact checked and produced by competent editors of Nasdaq Journal; however, human error can exist . The ratio may be used to provide an idea of the ability of a certain company to pay back its liabilities with assets.

Christine and Frank 'excited' for pregnancy
And 39-year-old Christine has also revealed how she's feeling ahead of the birth of her first child with former footballer Frank. See a list of celebrities who posed naked and pregnant for magazines and more scandalous nude celeb baby bump photos.

BCCI announce squads for Women's T20 Challenge
Alyssa Healy, Suzie Bates, Beth Mooney, and Danielle Hazell will be among the big worldwide names in the other team. Rajeev Shukla, Chairman, IPL, said, "We were in talks with several Boards and I am pleased with the outcome".

Other news