Andrea Felsted, Columnist

Ocado Survives the Grocery Killer

There's breathing room while the U.S. giant gets its act together.

January 31, 2017 at 11:06 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

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Amazon.com Inc.'s foray into selling fresh food in Britain hasn't killed off Ocado Group Plc. That's the message from the U.K. online grocer's full-year results on Tuesday.

Ocado's pre-tax profit before one-off losses rose from 11.9 million pounds ($14.8 million) to 14.5 million pounds in the year to Nov. 27, well ahead of the consensus of analysts' forecasts -- though a 2.4 million-pound one-off loss makes the performance not quite so impressive. The shares rose as much as 9.2 percent, the most since May.