ocadogroup
Ocado Group PLC (LON:OCDO) (the joint venture with Marks & Spencer) saw sales decline 5.7% in the quarter, to £564.7m. This reflected strong sales in 2021, boosted by the pandemic. Sales for the wider UK grocery market were 4% lower. Average orders per week grew 11.6% to 367,500, but that was more than offset by a 15% drop in the average basket size (£124) as customer behaviours shifted back toward pre-covid levels. Q4 2021 hedge fund letters, conferences and more The Bicester customer fulfilment centre (CFC) is set to open this year, adding capacity for 30,000 orders per week in the second ha...
ValueWalk
Ocado Retail – the joint venture with Marks and Spencer Group Plc (LON:MKS) – has said 2021 is expected to be in line with guidance, as strong demand is offset by labour shortages and capacity constraints. Q3 2021 hedge fund letters, conferences and more Shopping habits are returning to pre-covid levels. Retail revenue in the fourth quarter of £547.8m was up 31.6% on 2019, but down 3.9% on last year. That reflects an 8.5% increase in average orders per week to 375,100, but a 12% fall in the average basket size, as people spent less time at home. Trends in the fourth quarter have been positive,...
ValueWalk
Ocado Group PLC (LON:OCDO) – which is 50% owned by Marks & Spencer – saw third quarter revenue fall 10.6% to £517.5m. Revenue fell 1.8% in the first 6 weeks. Following the fire at the Erith fulfilment centre in July, lost capacity and sales meant revenue fell 19% for the rest of the period. Q2 2021 hedge fund letters, conferences and more Ocado processed 338,000 orders a week, up 1.4% on last year. New capacity means the group can now process up to 600,000 orders a week, and announced plans to increase this to 700,000 in 2022-2023. The total cost of the fire, not covered by insurance, is expec...
ValueWalk
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