Retailer Results / Ocado

13/09/2016

Ocado

Trading Update
12 weeks to 7 August 2016

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15/03/2016

Ocado

Trading Update
Q4 - 12 weeks to 21 February 2016

Highlights

• Ocado Group revenue rose to £312.4m (£271.1m 2015), up 15.3 per cent
• Ocado Retail revenue rose to £286.7m (£252.0m), up 13.8 per cent
• Average orders per week rose on last year to 214,000 (183,000 2015), up 16.9 per cent
• Average order size fell to £111.41 (£114.72 2015), down 2.9 per cent

Summary

Overall, these are solid results from Ocado with retail sales up 15.3 per cent despite a drop in the average order value of 2.9 per cent. Given the backdrop of the challenging grocery market, it’s impressive to see growth remaining in double digits while transaction volume growth continued. Average weekly orders rose by 16.9 per cent and during the reporting period Ocado shipped over 250,000 orders in a single week – a record.

Tim Steiner, Ocado’s Chief Executive Officer, said: "We are pleased with the steady progress in our business, maintaining double digit sales growth in a retail environment that remains challenging, and post period end we shipped over 250,000 orders in a single week for the first time.

"We believe our focus on customer satisfaction and commitment to improving what we offer to consumers through innovation and our proprietary IP will support further growth. Notwithstanding the tough nature of the marketplace, we expect to continue growing ahead of the online grocery market."


10/12/2015

Ocado

Trading Update
Q4 - 16 weeks to 29 November 2015

Highlights

• Ocado Group revenue rose to £381.6m (331.9m FY2014), up 15.0 per cent
• Ocado Retail revenue rose to £351.8m (£311.4m), up 13.0 per cent
• Average orders per week rose on last year to 205,000 (177,000 FY2014), up 15.8 per cent
• Average order size fell to £107.16 (£109.74 FY 2014), down 2.3 per cent

Summary

Overall, these are solid results from Ocado with retail sales up 13.0 per cent despite a drop in the average order value of 2.3 per cent. Given the backdrop of the challenging grocery market, it’s impressive to see 13 consecutive months of double-digit sales growth.

However, the release is light on detail and there is no mention of the International licensing deal or the aims to find a new online grocery partner by the end of the financial year.

Tim Steiner, Ocado’s Chief Executive Officer, said: “We are pleased to report the thirteenth consecutive quarter of double-digit sales growth in what is a challenging and competitive grocery retail environment. Order growth remains strong with average orders per week now exceeding 200,000. This reflects the ongoing shift to online grocery shopping and the specific value customers place on Ocado’s leading proposition, offering the highest service levels and widest range. Our basket value declined as we remain competitive by following market moves in pricing.

“We are committed to further improving our offer to customers and to driving operational and capital efficiency across the business, which we believe will support growth. We anticipate the retail environment to remain challenging, but expect to continue growing sales ahead of the online grocery market.”


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