Ocado retail sales up 11.4% in first quarter


Online grocery retailer Ocado said it grew sales in its retail division by 11.4% in the third quarter, putting it on track to meet its full-year guidance.

The company said retail revenue in the 13 weeks to 1 September rose to £386.3m, up from £346.9m on-year.

Average orders per week rose 12.1%, while the average order size fell 0.8% to £105.42.

Ocado recently sold 50% of its retail until to Marks & Spencer, with the deal going live from 5 August, in order to focus more on its logistics technology business.

The company had guided for retail sales growth for the full year of 10-15%, despite fires recently damaging two of its UK warehouses.

'These first set of results from the joint venture between Ocado and M&S show the resilience of Ocado following the Andover fire and the momentum the business now has,' retail head Melanie Smith said.

'As we continue to enhance our offering and add more capacity in the UK, our leading partnership will deliver the very best experience to an evergrowing number of customers.'

'Bringing Ocado and M&S together on-line will give UK consumers even greater choice, value and service and will create important new opportunities for our colleagues, suppliers, and other stakeholders.'

Related content

Ocado shares gain on global expansion plans


Ocado (OCDO) £12.52

Gain to date: 5.5%

Original entry point: Buy at £11.87, 25 July 2019

Shares in...

Thu, 13/02/2020 - 00:00

Ocado losses deepen after warehouse fires push up costs

Online grocery delivery and technology group Ocado booked a deeper annual loss, owing to costs associated with warehouse fires and continued investment in its robotic...

Tue, 11/02/2020 - 07:23

Broker Forecast - JP Morgan Cazenove issues a broker note on Ocado Group Plc

JP Morgan Cazenove today reaffirms its underweight investment rating on Ocado Group Plc (LON:OCDO) and raised its price target to 1090p (from 1050p).

Broker Forecasts...

Mon, 10/02/2020 - 11:20

Broker Forecast - Goldman Sachs issues a broker note on Ocado Group Plc

Goldman Sachs today reaffirms its neutral investment rating on Ocado Group Plc (LON:OCDO) and raised its price target to 1250p (from 1220p).

Broker Forecasts data...

Fri, 31/01/2020 - 10:40

Broker Forecast - Berenberg issues a broker note on Ocado Group Plc

Berenberg today upgrades its investment rating on Ocado Group Plc (LON:OCDO) to buy (from buy).

Broker Forecasts data provided by www.sharesmagazine.co.uk...

Thu, 23/01/2020 - 08:00