THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Profits rise at Ocado

Online supermarket Ocado has seen its full year revenue increase by 14.8% to £1.27 billion as revenue from retail activities rose by 13.3%.

FOOD & DRINK

Profits rise at Ocado

Online supermarket Ocado has seen its full year revenue increase by 14.8% to £1.27 billion as revenue from retail activities rose by 13.3%.

In the 52 weeks to 27 November, pre-tax profit edged up 1.3% to £12.1 million. Profit before tax and exceptional items climbed by 14.8% to £14.5 million.

The company said the revenue growth was driven by a 17.9% year-on-year increase in the full year average orders per week to 230,000. Product sales from the retailer’s general merchandise destination sites climbed by over 85% as trade was boosted by the popularity of its Fetch pet store and the launch its new beauty destination site, Fabled, during the second half of the period.

The increase in order growth was partially offset by a reduction in average hypermarket order size, which was down 2.7% from £111.15 in 2015 to £108.10 in 2016. This was primarily due to deflation in the average item price.

Tim Steiner, chief executive Officer of Ocado, said: "We are pleased to announce results today which reflect robust trading in our core business and shows continued progress against our strategic objectives in what has been a challenging retail environment.

"We commenced operations at our new customer fulfilment centre in Andover, which has the first installation of our new proprietary technology. At the same time, we have made good progress in improving the efficiency and throughput of our existing operations, increasing our capacity from existing facilities by over 20,000 weekly orders. These developments position us well for future growth, whilst improving our returns and enhancing the service we can offer our customers.”

The company said mobile has continued to grow in significance with over 55% of all orders at Ocado being checked out using its latest apps and browsers on mobile devices.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process