Quantcast

Ocado shares nosedive over sales warning after warehouse fire

0

Ocado’s shares have fallen after the company warned over a sales hit following Tuesday morning’s automated warehouse fire in Andover, Hampshire.

The company said the shut down will cause a “constraint on our ability to meet our growing customer demand.

“There will be a reduction in sales growth until we can increase capacity elsewhere.”

Ocado has stressed they have comprehensive insurance for the warehouse, equipment, stock and business interruptions.

The Andover robotics warehouse is one of four that the group built,

Bruno Monteyne a retail expert at Bernstein, said the sales impact was a “material dent in the UK retail business.”




Share.