Ocado Group is trading 10.4% down at £159.20 following the release of its July 16 half-year results and cautious commentary regarding U.S. growth initiatives.
- The company reported that revenue rose just 1% while adjusted EBITDA fell to £81 million, missing key performance expectations.
- Shares tumbled as management failed to show tangible progress on new U.S. partnerships, compounded by reports of an internal boardroom succession battle.