Ocado 4Q Retail Revenue Fell on Changing Post-Lockdown Environment
14 Dezembro 2021 - 4:49AM
Dow Jones News
By Sabela Ojea
Ocado Group PLC said Tuesday that it benefited from strong
underlying demand in the fourth quarter of fiscal 2021, but that
its retail revenue declined for the fourth quarter on a changing
post-lockdown environment in the U.K.
The online grocer and retail-technology specialist said retail
revenue declined to 547.8 million pounds ($723.8 million) for the
13 weeks ended Nov. 18 from GBP570.1 million for the same period a
year earlier.
The FTSE 100 company said its average orders per week were
stronger. However, it was hit by labor shortages and the fact that
the value of the average basket fell 12% to GBP118, as many
consumers spent less time at home after having to return to the
office.
Regarding its outlook, Ocado said its full-year results for
fiscal 2021 are expected to be in line with guidance and that it
anticipates a return to strong, mid-teens revenue growth in 2022,
at the top of the historic pre-pandemicrange of 10%-15%.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 14, 2021 02:34 ET (07:34 GMT)
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