Ocado posts strong sales over quarter and hails ‘positive’ start to its M&S tie-up

Source: Mintel 15-09-2020

Online grocer Ocado retail revenues jumped 52% to £587.3 million in the 13 weeks to 30 August 30. Average weekly orders rose 9.6% to 345,000. Ocado, which posted a pre-tax loss of £214.5 million in 2019, said it expects to post full-year EBITDA of at least £40 million.

Ocado started selling Marks & Spencer’s grocery products through its platform on 1 September 2020. Despite having to cancel some orders due to high demand, Ocado said customers had “responded positively” to the new service.