Member Info for Sangijuelas1

MKS product sales on Ocado were up 18%.

I think a lot of the MKS squawking is them trying to get free publicity for their products on the platform given the agreement doesn't allow them to advertise the fact

At the end of the day there's enough negativity in there for shorts to hang their coats on a while longer.

Nothing good

The fact that they are telling their shareholders they owe £0 and Ocado notes say they are considering legal action suggests a big row.

Hence M&S pointing to other failings in the partnership such as the delay to adopting the Ocado Smart Platform.

Ocado said they had significantly written down the value of the what they think the contingent consideration is worth. They think it should be the full £190m and Marks think it should be zero.

So sounds like a pretty big disagreement.

They don't sound happy at all about the ongoing use of old systems to run the website and logistics etc and are complaining quite a bit about delays to the new Ocado Smart Platform.

Strange that this is the first we are hearing about these delays.

Dumb money buying. Will get spiked

What are you talking about? This will be a good day for the shorts.

The payment of £190m that was due in August is going to be 0 unless Ocado take them to court.

They seem it as worth zero despite Ocado trying to convince them otherwise so it will be going to court.

Is it not that they increased capacity too much to then carry over into the period following peak pandemic conditions, such that costs exceeded revenue?

At first they were overwhelmed and couldn't meet increased demand for delivery slots. Then when life went back to normal they had excess capacity.

I am sure the meetings were minuted and documented in terms of how decisions were made.

Ocado said that it was written into the agreement that the targets were set around baseline assumptions and that if those proved wrong the targets were adjustable.

Of course COVID meant that the original assumptions were wrong and the actions taken to deal with that situation caused the targets to be missed.

Josey- they will have a lot to say any year about Ocado Retail because they invested a lot of money in it to increase their grocery sales and will need to update their investors on progress or the lack of it.

Archie Norman's criticism was at their AGM, not in the results release.

The target was already missed. Ocado are citing exceptional circumstances because of the pandemic ramp up which was jointly agreed but caused target to be missed.

Given the rise into close I suspect some info has been shared around. It's normally this sort of time the morning RNS are prepared.

Last year they deducted the cost of £108m as they considered they are no longer liable for the contingent consideration.

So they will have to say what they are doing about that and if it's nothing Ocado will have to see them in court.

And presumably they will have to say whether they have made any provision for money Ocado claim is owing to them.

D1 are short Ocado because they are long Instacart.

And you only need to look at last year's M&S results to see the likely extent to which Ocado Retail will be mentioned.

Yeah especially the bit about Ocado not having any business operations in the US.

Https://www.proactiveinvestors.co.uk/companies/news/1047848/is-ocado-banking-on-the-us-to-solve-its-identity-crisis-1047848.html

And again. Not a reliable partner. Just wanted to find a way to get out of Forward

I hold a decent stake that is intended as a long term hold.

I will only trade if I sense unusual volatility