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Ocado shares soar as it partners Kroger to enter the U.S.

Reuters  |  LONDON 

By Paul SandleLONDON (Reuters) - Britain's Ocado said U.S. retailer Kroger had agreed an exclusive deal to use its technology for grocery deliveries, securing the online supermarket pioneer's entry into the world's biggest market and sending its shares up 50 percent.The agreement, Kroger's response to Amazon's purchase of Whole Foods, takes Ocado's home-delivery platform into the United States for the first time and marks the fourth major deal it has signed with supermarkets in six months.Ocado said it believed Kroger, which had sales of $122 billion in its last fiscal year, was the grocer ...

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First Published: Thu, May 17 2018. 14:16 IST