Ocado Group PLC (STU:0OC)
€ 4.365 0.405 (10.23%) Market Cap: 3.52 Bil Enterprise Value: 4.92 Bil PE Ratio: 0 PB Ratio: 1.86 GF Score: 52/100
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Ocado Group PLC Announces Partnership with Lotte Shopping Call Transcript

Nov 01, 2022 / 07:30AM GMT
Release Date Price: €5.55 (+2.78%)
Timothy Steiner
Ocado Group plc - CEO & Executive Director

Good morning, everyone. We're delighted today to announce the signing of a partnership between Ocado Solutions and Lotte Shopping, to develop Lotte's online grocery business. Before we discuss the deal, we'd like to take a moment to acknowledge the tragedy in the Itaewon district of Seoul over Halloween weekend. Our thoughts are with our new partner, the South Korean people and all those affected during this period of national mourning. Together with our team here in Seoul today, I was honored to join new colleagues at Lotte in observing a period of silence to reflect on the tragedy and all those impacted. We're really happy to be working with Lotte, one of the largest business conglomerates in the country, whose interest span hotels, cinemas, chemicals, food production and retail generating total annual revenue of GBP 45 billion last year.

Lotte is the second largest grocer in South Korea with more than 1,000 stores nationwide. Lotte now joins 11 other leading grocers around the world whose online businesses will be powered by the

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