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Ocado's Uphill Battle To Deliver Abroad
It's struggling to convince traditional retailers and grocers to challenge Amazon.
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Is someone finally ready to buy what Ocado is selling? Or should we chalk up a 9 percent jump in shares of the British web grocer to wishful thinking on behalf of investors?
Ocado's stock shot up on Monday after reports surfaced it was close to signing a deal to run online sales for U.S. supermarket Publix, an 1,100-store, employee-owned chain with $33 billion in annual revenue. But like previous whispers about tie-ups with Carrefour and Amazon, there's no indication these rumors are true.