Ocado reports 15% sales growth
Online supermarket Ocado Group has today (15 March) reported that group sales for the 12 weeks to 21 February were £312.4m, up 15.3% from the same period last year, and retail sales were up 13.8% to £286.7m. Average orders per week increased to 214,000 from 183,000, but the average order size fell from £111.41 from £114.72.
Commenting on the results, Tim Steiner, Ocado’s Chief Executive Officer, said: “We are pleased with the steady progress in our business, maintaining double digit sales growth in a retail environment that remains challenging, and post period end we shipped over 250,000 orders in a single week for the first time.
“We believe our focus on customer satisfaction and commitment to improving what we offer to consumers through innovation and our proprietary IP will support further growth. Notwithstanding the tough nature of the marketplace, we expect to continue growing ahead of the online grocery market.”
Ocado’s Chief Financial Officer Duncan Tatton-Brown told reporters that Ocado expects to finalise a renegotiated supply agreement with Morrisons “relatively soon”.
Ocado struck a deal to provide Morrisons with online delivery services back in 2013 – but the arrangement has been complicated by Morrisons’ recent tie-up with Amazon Prime.
