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The disappointing outlook suggests that competition is intensifying among food retailers to grab spending from cost-conscious consumers, raising the stakes for CEO Greg Foran to accelerate growth. 

Ocado suffered a major setback in November when its biggest customer, Kroger, said it would close three Ocado fulfilment centers.

Ocado in December said it would receive a one-time cash payment of $350 million from Kroger after the U.S. grocer decided to close three automated warehouses and scaled back plans for a wider rollout.

Greg Foran led Walmart's U.S. division for six years before departing in 2019. While there, he introduced online ordering and pickup, and accelerated Walmart's digital capabilities.

Autonomous startup Gatik signed a deal with a major consumer goods company that will double its contracted revenue to $600 million, helping to build out its business in the U.S. and Canada.

The move means Ocado can sell more of its technology to other retailers around the world, according to a statement Dec. 30.

Ocado Group will receive a one-time cash payment of $350 million from Kroger, more than previously announced, after the U.S. grocer decided to close three automated warehouses.

Kroger’s results add to mixed signals about the health of the U.S. economy as consumers navigate persistent woes about inflation and the cooling labor market.

Kroger said it will close facilities in Pleasant Prairie, Wis.; Frederick, Md.; and Groveland, Fla., in January, and will monitor the performance of its five remaining facilities.

Uber is making hundreds of thousands of restaurants available to Kroger customers on the grocer’s app and website, and is offering extra perks to Kroger’s paid members