Ocado shares drop sharply, reaching a 13-year low after the UK grocery delivery company reports weaker profit performance and signals delays to planned rollouts of its technology. Financial Times reports the stock falls about 18% following concerns around the performance of Ocado’s technology licensing business. Other coverage points to ongoing internal boardroom issues and a succession-related dispute involving senior leadership, alongside investor reactions tied to results.
Additional reports add that Ocado swings to a loss following the boardroom battle, and that the company’s chief addresses expectations about future control of the business. Despite the negative market reaction, at least one outlet says Ocado reiterates its cash flow forecasts and indicates it is in talks with multiple US retailers, suggesting negotiations continue even as installation timelines may be pushed back. Overall, sources converge on the link between the company’s financial update, delays to technology installations, and heightened uncertainty for shareholders due to governance and leadership tensions.
