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FTSE 250 movers: Ocado slumps; Bakkavor gains
(Sharecast News) - FTSE 250 (MCX) 21,425.92 -1.21%
Bakkavor gained after Greencore struck a deal to sell its Bristol soups and sauces site to Compleat Food Group to meet regulatory conditions on its Bakkavor takeover .
FirstGroup tumbled after it reported a sharp rise in first-half net debt and said it expects "modest" growth in adjusted earnings per share in FY 2026.
Ocado shares tumbled on Tuesday after it said the closure of three customer fulfilment centres in US partner Kroger's live network will reduce its FY26 revenues by around $50m (£38m).
Kroger said in a statement that it plans to close fulfilment centres in Frederick (Maryland), Pleasant Prairie (Wisconsin), and Groveland (Florida), in January 2026.
The US retailer also said: "In geographies where Kroger sees higher density of demand, the company will continue to take advantage of automated customer fulfilment to increase customer engagement, capacity and improve productivity and profitability.
"As part of its comprehensive hybrid fulfilment network, Kroger will also pilot capital-light, store-based automation in high-volume geographies to improve fulfilment capabilities and elevate the in-store customer experience. The adjustments to the network combined with increased store-based fulfilment will contribute to ROIC improvement."
Ocado said that it and Kroger will continue to operate CFCs in Monroe (Ohio), Dallas (Texas), Atlanta (Georgia), Denver (Colorado), and Detroit (Michigan).
"Ocado continues to support Kroger to optimise logistics operations and drive profitable volume growth in these remaining sites, with constructive ongoing discussions around further use of Ocado's technology to support Kroger," it said. "Ocado continues to engage with Kroger on these and other matters, and expects significant growth in the US market, both with CFCs and Store Based Automation."
Ocado expects to receive compensation of more than $250m for fees related to the early closure of the three CFCs.
FTSE 250 - Risers
Bakkavor Group (BAKK) 225.50p 3.20% Foresight Solar Fund Limited (FSFL) 71.40p 1.28% Sirius Real Estate Ltd. (SRE) 96.85p 0.89% Syncona Limited NPV (SYNC) 100.80p 0.80% Pets at Home Group (PETS) 204.00p 0.69% Pollen Street Group Limited (POLN) 890.00p 0.68% Playtech (PTEC) 234.00p 0.65% Just Group (JUST) 214.00p 0.47% Johnson Service Group (JSG) 134.80p 0.45% Mitchells & Butlers (MAB) 243.00p 0.41%
FTSE 250 - Fallers
Ocado Group (OCDO) 173.55p -20.32% FirstGroup (FGP) 183.40p -8.48% Ceres Power Holdings (CWR) 350.00p -6.22% Wizz Air Holdings (WIZZ) 1,021.00p -4.67% Baillie Gifford Japan Trust (BGFD) 882.00p -3.50% Trainline (TRN) 251.00p -3.39% Hays (HAS) 56.30p -3.35% JPMorgan Japanese Inv Trust (JFJ) 712.00p -3.26% Baltic Classifieds Group (BCG) 225.00p -3.23% Hochschild Mining (HOC) 357.60p -3.14%
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