Ocado: A Long Way Down, But Further To Go [Seeking Alpha]
MARKS & SPENCER GRP S/ADR (MAKSY)
NASDAQ:AMEX Investor Relations:
markspizzeria.com
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Source: Seeking Alpha
The company's profitability outlook has worsened over the years, with its bottom-line performance moving in the wrong direction. Ocado is in a dispute with its key business partner, Marks and Spencer, over targets and potential payment, which may require a legal process to resolve. British online retailer and service provider Ocado ( OTCPK:OCDGF ) continues to be an innovative business, but sustained profitability looks as distant now as it has at any point since the firm's 2010 listing. I most recently covered the name in my March 2021 “sell” piece Ocado: Results Demonstrate The Fundamental Problem In Its Business Model , since when the shares have lost 81% of their value. At that point, and indeed now, my fundamental thesis (explained fully in this 2020 piece ) was that while it is often treated as a tech company, Ocado's current business model relies on sizeable capex to build bricks and mortar warehousing and supply chains, a business model that has not yet proven it can
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