News Ocado now worth more than Marks and Spencer

Discussion in 'Retail' started by Cody, May 18, 2018.

  1. Cody


    Feb 17, 2016

    Recent news shows that Ocado's shares have rocketed at almost 45% adding over £1.6billion to their stock market value, therefore making it worth more than Marks & Spencer.

    Shares jumped yesterday due to its announcement with US-based grocer Kroger deal, which is the world's third largest retailer with nearly 3,000 shop spanning across 35 states. With the Ocado shares jumping this massively, with the extra £1.6billion added to their market value this has increased their entire business at around £5.3billion, whereas M&S are worth £4.8billion.

    The new deal between the two retailers will see Ocado's technology used by Kroger, who will also be taking a five percent stake in Ocado.

    Ocado's founder and Chief Executive, Tim Steiner said: "As we work through the terms of the services agreement with Kroger in the coming months, we will be preparing the business for a transformative relationship which will reshape the food retailing industry in the US in the years to come."
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