Ocado Teams Up With Kroger: What The Analysts Said

18 May, 2018, 15:46 | Author: Gladys Mathis
  • Kroger trolley handle

Kroger CFO Michael Schlotman explained to CNBC why the deal made sense as opposed to the company just doing it themselves. Over the first three years of the agreement they are to identify a further 20 sites.

"The opportunity to partner with Kroger to transform the way in which U.S. customers buy grocery represents a huge opportunity to redefine the grocery experience of Kroger's customers and create value for the stakeholders of both Kroger and Ocado", Steiner added.

Its automated systems complete the processing and packing of online grocery orders, using hundreds of robots in its United Kingdom distribution centres. "But the multitude of things we think we can do was what really got us over the finish line".

Kroger's deal with Ocado - coming less than a year after Amazon.com bought key Instacart partner Whole Foods - puts more pressure on the 5-year-old San Francisco company that picks and delivers groceries for dozens of other retailers, including Costco Wholesale Corp, Walmart Inc's Sam's Club, Albertsons and Sprouts Farmers Market Inc.

"We are actively creating a seamless digital experience for our customers", Kroger CEO Rodney McMullen said in a statement.

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Ocado chief executive Tim Steiner said working with Kroger to transform the way in which U.S. customers bought groceries represented "a huge opportunity to redefine the grocery experience" for Kroger customers.

Ocado chief executive Tim Steiner said the deal would be "transformative" for the business.

The Ocado CEO said his firm will work with Kroger to roll out up to 20 robotic warehouses across the US over the first three years of the agreement. It also says that it has already taken into account for the effect it will have for 2019 earnings with its Restock Kroger plan. "How competition will respond to the news with their own differentiated offerings is not yet understood".

Ocado Solutions CEO Luke Jensen is certainly intrigued by the opportunity at hand, noting that the "grocery online market in the US has been relatively underdeveloped compared with some European markets". In addition, there are platforms such as home delivery services ClickList and the pickup services Harris Teeter ExpressLane, which are in more than 1,000 locations, said one analyst.

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