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Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
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Share Price: 286.50
Bid: 286.40
Ask: 286.60
Change: -7.40 (-2.52%)
Spread: 0.20 (0.07%)
Open: 294.70
High: 295.00
Low: 286.00
Prev. Close: 293.90
MKS Live PriceLast checked at -

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UPDATE 1-Ocado wins new customer in Spain as pandemic drives online grocery

Tue, 06th Jul 2021 07:42

(Adds background, detail)

LONDON, July 6 (Reuters) - British online grocer and
technology group Ocado said it had signed a new deal to
develop Alcampo's online business in Spain, as the pandemic
continues to drive the shift to online grocery buying and helped
boost revenues in its home market.

For its first half, which covered the 26 weeks to May 30,
Ocado posted a 20% rise in retail revenue to 1.2 billion pounds.
Lockdowns in Britain during the period drew new customers to its
joint venture with Marks & Spencer.

Ocado says that the pandemic has resulted in a permanent
shift to online grocery shopping, helping boost demand for its
technology offering with retailers around the world.

It signed a new contract on Tuesday with Auchan Retail for
its Alcampo business in Spain which will use the Ocado Smart
Platform to help expand its online business across the country.

Under the deal, the pair will build a customer fulfilment
centre (CFC) to serve the Madrid region from 2024, with
additional CFCs to follow.

To date, Ocado's state-of-the-art robotic technology has
signed partnership deals with supermarket groups including
Kroger in the United States, Casino in France
and Aeon in Japan.

"As we head towards a post Covid-19 future, it is
increasingly clear that the landscape for grocery worldwide has
changed, for good," Ocado chief executive Tim Steiner said.

"We continue to build strong partnerships with our clients
and win new clients."

The company added that it remained in conversation with
potential new customers.
(Reporting by Sarah Young; Editing by Kate Holton)

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