Home Business News Boom: Ocado elevated to the FTSE 100

Boom: Ocado elevated to the FTSE 100

by LLB Reporter
31st May 18 9:38 am

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UK’s online supermarket Ocado has sealed its position by officially joining the FTSE 100 yesterday. Ocado was promoted from FTSE 250 to the FTSE 100 in a quarterly reshuffle by index provider FTSE Russell.

Ocado’s market value has risen to £6.1bn in the wake of a deal with the US retail group Kroger. The stock is also up 124 per cent year-to-date amid a string of distribution deals.

According to Kantar Worldpanel, the online retailer has attracted an additional 132,000 new households over the past 12 weeks alone and has seen its year-on-year sales increase by 12.7 per cent.

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