Ocado shares extend decline after Kroger setback

Core Viewpoint - Shares in Ocado experienced a significant decline, falling further after a 17% drop the previous day, following the announcement from its partner Kroger regarding the closure of three U.S. delivery facilities [1] Group 1: Company Impact - The closure of three delivery facilities by Kroger represents a setback for Ocado, impacting its operational capabilities in the U.S. market [1] - The cumulative effect of the closures has contributed to a notable decrease in Ocado's stock value, reflecting investor concerns about the partnership's viability [1] Group 2: Market Reaction - The market reacted negatively to the news, as evidenced by the continued decline in Ocado's share price, indicating a loss of confidence among investors [1] - The 17% slump in shares prior to the latest drop highlights the volatility and sensitivity of Ocado's stock to developments within its partnerships [1]