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Ocado retail sales up 10.3% in first quarter

Online grocer Ocado has reported a 10.3% uplift in retail revenue in its first quarter. In the 13 weeks to 1 March, the revenue climbed to… View Article

FOOD & DRINK

Ocado retail sales up 10.3% in first quarter

Online grocer Ocado has reported a 10.3% uplift in retail revenue in its first quarter.

In the 13 weeks to 1 March, the revenue climbed to £441.2 million from £399.8 million in the corresponding period last year.

Meanwhile, average orders per week rose by 10.2% to 343,000 while the average order size edged up 0.3% to £110.24.

Melanie Smith, Ocado Retail’s chief executive, said: “We have reported continuing growth at Ocado Retail with sales up 10.3% over the quarter. The impact of higher basket values and order demand, amid growing public concern over the coronavirus, was limited in the quarter, although this has since picked up significantly and growth in the second quarter is so far double that of the first quarter. We expect the impact of forward buying, however, to unwind at some point.”

To cope with the massive demand for online delivery slots in recent days due to the coronavirus outbreak, the company has stopped registration for new customers for the time being. It has also  installed a new queuing system on its website  and closed its shopping app temporarily.

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