Ocado Group Plc reports 12.5% sales increase, outpacing 6.8% online market growth.
Ocado Group Plc reported a 12.5% rise in sales in the 12 weeks to April 14, surpassing the total online market growth of 6.8% according to research firm Kantar. The retailer's UK grocery division showed signs of recovery after facing a £400 million ($494 million) pretax loss in 2023. Ocado's success has been attributed to its efforts to compete against discounters by introducing price cuts and special offers.
April 23, 2024
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