Ocado reveals Q4 revenues of £550m
This is off the back of a record Christmas for the company with sales up 15% over the five days before Christmas with orders up 13%
Online retailer Ocado has announced revenues of £550m for 13 weeks ended 27 November 2022, an increase of 0.3% compared with last year.
The strong revenues come as a result of a 1.9% increase in average orders per week, which rose to 382,000.
Despite this the average basket value dropped 1.3% to £117 as a result of a 7.6% increase in the average selling price per item.
However, Ocado is still sticking with its guidance for FY22 even though its full year revenue of £2.2bn was down 3.8% from last year and economic headwinds are expected to continue.
This is off the back of a record Christmas for the company with sales up 15% over the five days before Christmas with orders up 13%.
Hannah Gibson, Ocado CEO, said: “This year we delivered our biggest ever Christmas for our customers at Ocado. A huge thank you to all my colleagues for making this possible.
“We now have close to 1m active customers, our largest ever customer base and we see huge potential to convert those who have now trialled online shopping elsewhere to become Ocado customers.”
