In the first set of results from the joint venture between Ocado Group and M&S, Ocado Retail revenue reached £386.3m in its third quarter, 13 weeks to 1 September. The company saw growth of 11.4%.
More frequent orders
Ocado Retail reported a strong Q3 with revenue up 11.4%, despite the fire at its Andover customer fulfilment centre (CFC) earlier this year and the significant change of forming the joint venture with M&S.
Average order size was down 0.8% as shoppers are ordering more frequently. Average order size remained strong at £105.42. Average orders per week increased by 12.1% to 314,000, as more slots became available.
Growth enabled by Erith CFC
Following the fire at Ocado's Andover CFC, Morrisons agreed to temporarily relinquish capacity at Ocado's Erith CFC, enabling Ocado to fulfil more orders. The additional capacity at its Erith CFC enabled growth for Ocado Retail.
Melanie Smith, Ocado Retail’s CEO, commented:
“These first set of results from the joint venture between Ocado Group and M&S show the resilience of Ocado following the Andover fire and the momentum the business now has. As we continue to enhance our offering and add more capacity in the UK, our leading partnership will deliver the very best experience to an ever-growing number of customers. Bringing Ocado and M&S together on-line will give UK consumers even greater choice, value and service and will create important new opportunities for our colleagues, suppliers, and other stakeholders".
Keep up to date with developments at Ocado
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