Ocado reports strong growth, but can’t escape the spending slowdown
|09/19/2017||Posted by BusinessMediaguide.Com under General World News||
LONDON – Online grocery retailer Ocado reported strong growth in its quarterly results on Tuesday, as more customers moved to shopping online.
For the quarter to 27th August, revenue was up 13.1% to £312.7 million compared to the same quarter last year, while orders per week were up 16%, to 254,000.
However, the average size of customers’ spend dropped just over a percent, from £107.56 to £106.25.
While more people appear to be shopping online at Ocado, the retailer does not seem to be immune to the spending slowdown, and shares dropped more than 5%.
Nevertheless, CEO Tim Steiner was positive about read more >>>