Retailer’s stock price falls 8% as fears grow that new online grocery delivery service could cause tremors in an already competitive sector Shares in Ocado dived more than 3% after fears that the online grocer faces increased competition from Amazon and is struggling to sign up an international partner.
The British retailer took a hit on Wednesday after Amazon said this week it would rapidly expand its grocery delivery service in the UK. Ocado shares beget now fallen 8% since Christmas Eve, closing at 315p on Wednesday. Related: Amazon UK to expand grocery range as supermarkets sight on warily Related: Amazon takes aim at UK supermarkets with launch of Pantry service Continue reading...
Source: theguardian.com