Online retailer and tech platform Ocado has reported a slide in full-year earnings, affected by factors such as the fire last year at its Andover depot.
Ocado posted a 27.2% EBITDA decline to £43.3m in the year to December 1, 2019, when group sales climbed 9.9% to £1.76bn. The retailer said that the earnings performance was “broadly in line with consensus” and was affected by accounting changes and share scheme costs as well as the warehouse blaze.
It has been a significant year for Ocado as its Solutions business struck more deals with overseas retailers keen to deploy its technology and as it prepares for its joint venture with Marks & Spencer to go live later in September.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.