1131 GMT - Ocado Group's 2024 performance showed signs of improvement, with narrowed losses and strong revenue. However the market's reaction suggests that patience with the online grocer and retail-technology specialist is running out, AJ Bell's Russ Mould says in a note. The company continues to report headline losses as it pledges to turn cash flow positive in the year to November 2026, he says. Meanwhile, investors could be worried about the company's level of borrowing as it fails to generate cash. Ocado reported some new deals, but some of its existing arrangements have been scaled back or suspended, Mould adds. "Ocado is reaching the point where more radical action is required, whether that involves a new management team being given a shot, or hiving off its retail venture with Marks & Spencer." Shares are down more than 14%. (michael.susin@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 06:31 ET (11:31 GMT)
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