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Ocado makes 'steady' progress in first quarter

Ocado increased its gross retail sales by 13.8% to £286.7 million in its first quarter as the online grocery retailer shipped over 250,000 orders in a single week for the first time.

GENERAL MERCHANDISE

Ocado makes 'steady' progress in first quarter

Ocado increased its gross retail sales by 13.8% to £286.7 million in its first quarter as the online grocery retailer shipped over 250,000 orders in a single week for the first time.

In the 12 weeks to 21 February, gross sales climbed by 15.3% to £312.4 million with average orders per week rising by 16.9% to 214,000

However, average basked size declined by 2.9% to £111.41 in the period.

Tim Steiner, Ocado's chief executive, 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."

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