Home Business NewsBusiness Revenues rise 40% at Ocado

Revenues rise 40% at Ocado

by LLB Editor
18th Mar 21 9:28 am

Revenue at Ocado’s UK retail business rose by a better-than-expected 39.7 per cent to £599 million in the 13 weeks to February 28.

The business, which is jointly owned by Ocado and Marks & Spencer, reported that average weekly orders rose 2.5 per per cent to 329,000.

The basket size, a crucial metric for online retailers, rose to £147, boosted by Christmas, the new year and the second lockdown.

Melanie Smith, Ocado Retail’s chief executive, said: “We expect strong growth over the coming years as we continue to lead the charge in changing the UK grocery landscape, for good.”

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