Online-only retailer Ocado saw its gross retail sales rise by 13% to £351.8 million in the fourth quarter, according to a trading statement issued today (10 December).
Average orders per week have risen 15.8% to 205,000 in the 16 week period to 29 November, the company said in the statement.
In its full year results, Ocado saw a 17.3% rise in group sales, to £1.2 billion, and a 14.7% rise in retail sales to £1.12 billion.
"We are pleased to report the thirteenth consecutive quarter of double-digit sales growth in what is a challenging and competitive grocery retail environment,” said Tim Steiner, Ocado chief executive.
“Order growth remains strong, with average orders per week now exceeding 200,000. This reflects the ongoing shift to online grocery shopping and the specific value customers place on Ocado's leading proposition, offering the highest service levels and widest range. Our basket value declined as we remain competitive by following market moves in pricing.”
Commenting on its performance, Barclays European Food Retail equity Research said: “Ocado’s sales growth has dipped below 15% after a number of quarters at this level, we would not draw any dramatic conclusions but it is clearly a little weaker than expected. Moreover, the lack of international deal may discourage some – even if not surprising to us.”
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
