Ocado's stock drops 18% as Sobeys halts Vancouver warehouse launch and ends mutual exclusivity agreement.
Ocado's stock plunged 18% after Canadian supermarket giant Sobeys halted the launch of its new Vancouver warehouse. The companies also ended their mutual exclusivity agreement. Ocado had announced in early 2018 a partnership with Sobeys to build warehouses and power Sobeys' online operations through its Ocado Smart Platform. The Vancouver site was initially planned for a 2025 launch.
June 20, 2024
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