Ocado has said it now expects its full-year EBITDA to surpass £70m following a quarter of “exceptional demand” and strong sales growth.
The online grocer’s joint venture with Marks & Spencer reported a 35% uplift in retail revenue in the 13 weeks to November 29 to £579.6m, driven by a 3% uplift in average orders per week to 360,000.
As a result of this ongoing strong demand Ocado has re-upped its full-year guidance for the second time in two months, having said in November it expected full-year profits to be over £60m.
Ocado’s average order size stood at £133 during the quarter as shopper behaviour continued to “normalise” following the stockpiling of lockdowns earlier in the year.
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:
During December, registered users can access 24 free articles in our advent calendar - find it here or on the homepage.
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.