Supermarket stocks have been a good investment during the pandemic. The British tech company that is leading the grocery industry’s global shift online, less so.
On Tuesday, shares in
fell 12% after the e-commerce pioneer told shareholders that steep losses in its international business will continue in its 2022 fiscal year, despite plans to more than double revenue.
Ocado is helping to build highly automated warehouses for major supermarkets like
and Canada’s Sobeys to make their grocery e-commerce businesses more efficient. Once these fulfillment centers are up and running, Ocado collects fees based on the amount of capacity they deliver. Revenue from this part of its business quadrupled in the…
