Ocado could take M&S to court over joint venture payment row

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In its latest annual results, Ocado confirmed that the retail joint venture “failed to meet the performance measures” for the year needed to secure an automatic payment of the instalment. Ocado Retail, our joint venture with M&S in the UK, has had significant success growing customer numbers, taking online grocery market share and rebuilding profitability Tim Steiner, chief executive However, Mr Steiner, the co-founder and chief executive of Ocado Group, said this would be “ludicrously low”. It also revealed that the Ocado Retail joint venture delivered an underlying profit after criticism from its retail partner over the operation last year. “Ocado Retail, our joint venture with M&S in the UK, has had significant success growing customer numbers, taking online grocery market share and rebuilding profitability, proving once again the attractions of our online model.”