Ocado has reported top line growth for Q3 2018 with revenues totalling £348.6m. The rise in sales, from a figure of £312.7m in 2017, represented an increase of 11.5%, in comparison to the same period of the prior year.
This growth was mainly attributable to an 11.4% increase in order volume, with an average of 283,000 orders per week, for Q3 in 2018 in comparison to the 254,000 orders per week in Q3 of 2017. Ocado’s new robotic facilities at Andover and Erith are helping the company to meet the increase in demand with strong initial growth at Erith. On the other hand, average order size remained constant at £106.26 per basket.
Ocado are on track to deliver a number of new Customer Fulfilment Centres (CFCs) for its partners in the coming years after signing a contract with Kroger for Ocado’s technology.
Tim Steiner, Ocado’s Chief Executive Officer, commented on Ocado’s recent developments: “At full capacity, this latest state-of-the-art CFC will be the largest automated warehouse for online grocery in the world. We are delighted to report that last week Erith processed over 20,000 customer orders 14 weeks after opening, a number which took Andover 15 months to achieve.”
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