Ocado retail sales up 11.4% in first quarter

Writer, Stock Market Wire
Tuesday, September 17, 2019 - 07:37

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 making fresh gains


Ocado (OCDO) £13.00

Gain to date: 9.5%

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

Our bullish...

Thu, 17/10/2019 - 00:00

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

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

Tue, 15/10/2019 - 08:00

Our top picks in the UK supermarket sector


While last year saw grocery spending lifted by high temperatures, World Cup fever and a Royal Wedding, the big supermarket chains haven’t had much to...

Thu, 10/10/2019 - 00:00

Sirius Minerals setback for thousands of UK investors and Ocado customers increase order frequency

“European markets were fairly quiet on Tuesday with the FTSE 100 dipping 0.1% to 7,313. Oil prices retreated from yesterday’s sharp rally, albeit only slipping...

Tue, 17/09/2019 - 09:43

Morrisons has fingers in many pies and US vaping crackdown hangs over British American Tobacco

“Trump’s decision to delay a planned tariff hike on $250 billion of Chinese goods has raised hopes among investors that relationships between the US and...

Thu, 12/09/2019 - 09:57