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Ocado sales surge during lockdown

by LLB Reporter
6th May 20 10:05 am

The online supermarket Ocado have announced a surge in retail sales by over 40% in two months since the coronavirus lockdown.

The online grocer said in recent weeks “more normal shopping patterns have returned.”

Ocado’s chief executive Tim Steiner will face fierce protests by shareholders over his £58.7m pay packet he received in 2019.

Steiner said, “We are facing quite a different challenge to many, as we scale up Ocado.com to play its part in feeding the nation, and as we help our clients launch and roll out their online businesses more rapidly against a backdrop of a likely long-term increase in demand for online.

“Ocado remains in a strong position and, while we should be grateful that our current challenges are around growth, expansion and increased demand, we have great empathy for all who are facing different challenges at this time.

“In retail, we are working with our small suppliers to make sure we pay them earlier than normal and we will work closely with any who are struggling.”

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