Yazılar

Ocado shares sink as Kroger reviews automated warehouse plan

/in /tarafından

Ocado’s shares tumbled 13% on Friday after U.S. retail giant Kroger signaled a possible pullback from its investment in robotic fulfilment centres, raising doubts over one of Ocado’s most important international partnerships.

Kroger’s interim CEO Ron Sargent, who launched a strategic review of the company’s e-commerce operations in June, told investors the retailer was conducting a “site-by-site” analysis of its automated warehouse network, developed with Ocado since 2018. He said the company was “taking a hard look” at some facilities and stressed that fulfilling online orders from stores would remain a priority.

The remarks fueled investor concerns that Kroger might slow or scale back its rollout of Ocado’s customer fulfilment centres (CFCs). The 2018 deal had earmarked 20 U.S. sites, but only eight are operational, with two more in Charlotte and Phoenix slated to open in early fiscal 2025–26.

Barclays analysts described Kroger’s tone as “cautious,” noting greater emphasis on leveraging existing store footprints.

Ocado, however, sought to downplay fears, pointing to positive e-commerce growth trends flagged in Kroger’s Q2 results and stressing continued collaboration on technology and operations. CEO Tim Steiner has previously insisted that the U.S. remains a “huge opportunity,” though he declined to confirm whether the exclusivity element of the Kroger deal would remain in place after this year.

Ocado shares are now down 18% over the past year, and Kroger is expected to provide a fuller update on its review in the third quarter.

Zebra Technologies to Acquire Elo Touch Solutions for $1.3 Billion, Raises Full-Year Forecasts

/in /tarafından

Barcode scanner and handheld device maker Zebra Technologies (ZBRA.O) announced a $1.3 billion all-cash deal to acquire Elo Touch Solutions, a touchscreen system maker, as it expands its retail-focused offerings. The acquisition follows strong second-quarter results driven by rising demand for Zebra’s devices and a recent acquisition of 3D imaging firm Photoneo.

Zebra’s shares jumped nearly 7% in premarket trading following the announcement and an upward revision of its annual revenue and profit guidance. The company benefits from increased digitization in retail and logistics, with its products aiding inventory management, warehouse operations, and shipment tracking.

The Elo Touch acquisition, expected to close in 2025, will add self-service kiosks, payment terminals, and touchscreen systems to Zebra’s portfolio, enabling frontline workers to better serve customers. CEO Bill Burns described the deal as a “next step” to accelerate frontline connectivity and estimated it expands Zebra’s addressable market by $8 billion.

Elo Touch, serving clients including JCPenney, has annual sales near $400 million. The acquisition is expected to be immediately accretive to earnings and to generate around $25 million in additional core profit three years after closing.

Zebra’s Q2 performance also benefited from lower tariffs than anticipated, with supply chain diversification across China, Vietnam, Malaysia, and Mexico helping manage costs. In April, Zebra raised prices on most North American products to offset tariff-related pressures.

For the full year, Zebra now expects sales growth between 5% and 7%, up from a prior range of 3% to 7%. Adjusted earnings per share guidance has been raised to $15.25–$15.75 from $13.75–$14.75.

In Q2, sales rose 6.2% to $1.29 billion, meeting estimates, while adjusted EPS of $3.61 exceeded expectations of $3.32.

India’s TCS Confirms No Systems Compromised in Marks & Spencer Cyberattack

/in /tarafından

Tata Consultancy Services (TCS) stated that none of its systems or users were compromised in the recent cyberattack affecting British retailer Marks & Spencer (M&S), a client of over ten years.

At its annual shareholder meeting, independent director Keki Mistry said, “As no TCS systems or users were compromised, none of our other customers are impacted.” He added that the ongoing investigation into the M&S breach does not involve TCS systems.

This marks the first public comment from India’s largest IT services firm on the cyberattack. M&S did not immediately respond to requests for comment.

TCS provides technology services to M&S and secured a $1 billion contract in early 2023 to modernize the retailer’s legacy technology, focusing on supply chain and omnichannel sales improvements.

The cyberattack, disclosed by M&S in April, is described as “highly sophisticated and targeted.” It is expected to cost M&S approximately £300 million ($403 million) in lost operating profit, with online service disruptions anticipated until July.

Last month, the Financial Times reported that TCS was internally investigating whether its systems were used as a gateway for the cyberattack.

Mistry chaired the shareholder meeting, while Tata Group Chairman N Chandrasekaran was absent due to urgent matters related to a recent Air India plane crash in Ahmedabad, which killed 241 of the 242 passengers onboard.