Ocado Q3 revenue jumps 14.3%

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Ocado

Ocado’s sales continued to rise in the third quarter, with the online grocer recording a 14.3 per cent jump in total revenue.

In the  13 weeks to August 27, the retailer raked in £344.5 million in total revenue, while its retail revenue was up 13.1 per cent to £312.7 million.

In addition, it  grew its average orders per week by 16 per cent to 254,000.

However, the average order size edged down 1.2 per cent to £106.25.

“We are pleased to report another strong quarter of growth,” Ocado chief executive Tim Steiner said.

“Our industry-leading technology has continued to set the bar for customer service and satisfaction and we continue to grow sales at a rate significantly in excess of the average for our industry.”

Ocado recently become the first grocer in the UK to launch an app for the voice-controlled Amazon Alexa, allowing customers who have Amazon accounts to update, add to, or track orders.

Ocado said it was scaling up capacity in its new customer fulfilment centre in Andover and preparing to open its fourth and biggest centre to date in Erith in 2018.

“These investments, while increasing some costs in the short term, will allow us to meet the rapidly growing demand for our services from UK consumers while allowing us to offer the very latest technology to current and future customers of our Ocado Smart Platform,” Steiner said.

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