Ocado Falls After Sobeys Puts Brakes on Vancouver Warehouse
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Ocado Group Plc shares tumbled after its Canadian partner temporarily halted the planned launch of an automated warehouse in Vancouver run by the British online grocery company.
Empire Company Ltd.’s subsidiary Sobeys and Ocado are also ending their exclusivity agreement in a setback for the British firm, according to a statement Thursday. The fourth Sobeys warehouse operated by Ocado was supposed to be operational next year.