Series
Every part of this series in order, oldest first. 3 of 3 parts laid out. Theme: Rollbacks & Reversals.
The grocer says its Ocado-built network isn't meeting financial expectations. Three sites close in January, state notices cover more than 1,600 jobs, and orders move to stores and delivery apps.
Kroger's filings put the charge at $2.585 billion and say the network wasn't meeting "operational or financial expectations." The settlement also covers a planned site in Charlotte that won't be built.
At its Oct. 20 investor day, Kroger laid out an online growth plan built on 2,700 stores, faster delivery and in-store automation. Ocado's name didn't come up once.