Online grocery Ocado has seen its losses widen to £44.4m (€51m) in the 12 months to December 2, from a loss of £8.3m (€9m) the previous year. Online grocery Ocado has seen its losses widen to £44.4m (€51m) in the 12 months to December 2, from a loss of £8.3m (€9m) the previous year. Over the year the group signed international partnerships with Sobeys, ICA and Kroger to develop the Ocado Smart Platform in Canada, Sweden and the United States. The company said it continue to engage with "multiple retailers" in a variety of markets with a view to adding more partnerships to its platform. Tim Steiner, CEO of Ocado, said: "Our transformation journey is well under way with increased cash fees earned and greater investment as we execute on behalf of our partners."

Source: Irish Independent February 05, 2019 07:39 UTC