Ocado sales surge as shoppers stay home [Video]

Another busy quarter for the robots at Ocado warehouses…

The UK online supermarket says revenue at its retail arm jumped 52% as shoppers stuck at home opted to get their food delivered.

That took third-quarter revenue to about 756 million dollars.

The growth follows an over-40% surge in the previous quarter.

Online food shopping has more than doubled its share of the UK market since the global health crisis began.

14% of all groceries are now delivered, and Ocado reckons that could hit 30% over the next few years.

The coming quarter will mark a key test for the firm though.

From the first of September it has dropped long-time partner Waitrose.

Instead it will offer products from rival chain Marks & Spencer.

Ocado says customers have responded positively to the switch, with demand for the new range driving an increase in the number of products in customer baskets.

Shares in Ocado were up over 5 percent on Tuesday (September 15) morning.

That takes total gains for the year to about 94%.

Video Transcript

Another busy quarter for the robots at Ocado warehouses. The UK online supermarket says revenue at its retail arm jumped 52% as shoppers stuck at home opted to get their food delivered. That took third-quarter revenue to about $756 million. The growth follows an over 40% surge in the previous quarter.

Online food shopping has more than doubled its share of the UK market since the global health crisis began. 14% of all groceries are now delivered. And Ocado reckons that could hit 30% over the next few years.

The coming quarter will mark a key test for the firm, though. From the first of September, it has dropped longtime partner Waitrose. Instead, it will offer products from rival chain, Marks and Spencer. Ocado says customers have responded positively to the switch with demand for the new range driving an increase in the number of products in customer baskets.

Shares in Ocado were up over 5% on Tuesday morning. That takes total gains for the year to about 94%.

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