Ocado Retail raises fiscal year revenue forecast to low double-digit growth after 15.5% revenue increase in Q3, reaching £658mn.

Ocado Retail has raised its revenue forecast for the fiscal year to low double-digit growth following a 15.5% increase in quarterly revenue, reaching £658 million. This growth, attributed to a surge in customer numbers to 1.06 million and a 14.7% rise in average weekly orders, outpaced the overall online grocery market's 4.4% increase. Despite challenges like stagnant average basket value, Ocado's strategies have effectively attracted more shoppers.

September 19, 2024
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