Shares in Ocado fall almost 10% after revealing Sobeys will close Calgary site that uses UK group’s delivery technology
Ocado has revealed its Canadian partner is closing a warehouse that uses its robots and automation technology in another blow to the UK online delivery group’s business model. Shares in Ocado dived almost 10% on Thursday after it announced that Sobeys would be shutting the Calgary facility, saying it was “largely due to the Alberta grocery e-commerce market’s size and the rate of expansion being slower than originally anticipated”.
The decision came less than three months after Ocado’s US partner Kroger closed three warehouses, knocking almost a fifth off the UK company’s value.
