Ocado Group

Ocado Retail Sales Growth Accelerates On Customer Wins

Online supermarket Ocado Retail reported faster sales growth in its fourth quarter as more competitive pricing helped it win customers.

Supermarket group Morrisons will gradually end deliveries from Ocado’s automated warehouse in Erith, southeast England.

Ocado Retail has said it is prioritising customer growth after a strong third quarter helped lift its annual revenue guidance.

Ocado said on Monday that its US partner Kroger had placed an order for new automated technologies to roll out in its warehouses.

Online retailer Ocado lifted guidance on Tuesday, citing an improvement in the profitability of its warehouse technology business.

Marks & Spencer is “not unhappy” with the current performance of Ocado Retail, according to the company’s charman Archie Norman.

The chairman of Ocado has announced his intention to step down next year due to his “increasing commitment” to banking group NatWest.

The British online supermarket and technology group Ocado forecast faster growth this year as it delivered annual core earnings beyond expectations.

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