Ocado Surges After Shoppers Start to Spend More Online Again
- UK company has seen grocers press pause on its technology
- CEO Tim Steiner says customers are returning to e-commerce
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Ocado Group Plc shares surged as the provider of robotic warehouses narrowed its losses, even after delays from some key customers.
The British company nearly halved its pretax loss for the first half of the year to £154 million ($200 million), a better result than analysts expected, and said cash flow is improving.