Ocado says Kroger committed to build more warehouses despite roll-out slowdown [Reuters]
Kroger Company (The) (KR)
Last kroger company (the) earnings: 3/5 08:30 am
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Source: Reuters
online grocer and technology group Ocado (OCDO.L) , despite slowing a roll-out of sites, Ocado CEO Tim Steiner said on Tuesday. Ocado struck a deal with Kroger in 2018 to help the U.S firm ratchet up its delivery business with the construction of robotically operated warehouses. The initial deal saw Kroger identify 20 sites to build automated warehouses, or customer fulfilment centres (CFCs) as Ocado calls them, in the United States. Kroger is currently live with eight sites, with 16 ordered so far. "They are committed to building more, they just want to make those (existing) ones work as well as they can before they roll out loads – very sensible thing to do," Steiner told reporters. He said Kroger remained "extremely positive" about the relationship, noting he visited the firm last week and will again in two weeks' time. "They expect to have loads of these warehouses. But when you do something new, you need to make it work really well before you scale it up massively," h
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KR
Earnings
- 3/7/24 - Beat
KR
Sec Filings
- 4/25/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- KR's page on the SEC website