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Ocado sales are healthy but still no update on Morrisons

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Despite  a "retail environment that remains challenging", Ocado managed to increase sales in its first quarter. In a trading update on Tuesday however, the online grocer remained hush on any plans to finalise a deal with supermarket customer Morrisons.

Ocado posted a 13.8% growth in gross retail sales in the 12 weeks to 21 February compared to the same period last year, slightly higher than the 13% rise it reported in the previous quarter. The average number of orders per week also jumped by 16.9% although the average order size was down slightly from £114.72 to £111.41.

"We believe our focus on customer satisfaction and commitment to improving what we offer to consumers through innovation and our proprietary IP will support further growth," said Chief Exec Tim Steiner. "Notwithstanding the tough nature of the marketplace, we expect to continue growing ahead of the online grocery market."

Ocado has faced pressure recently since Amazon struck a deal with Big Four grocer Morrisons, shadowing a potential tie-up between Ocado and the supermarket chain, or a takeover from Amazon, with doubt.

Published on Tuesday 15 March by Veebs Sabharwal

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