Online Grocer Sees Double-Digit Growth and Increased Customer Base
- Ocado raises full-year guidance due to strong Q3 performance
- Q3 retail revenues up 15.5% to £658m
- Sales volumes rise 15.4% year-on-year
- Active customers increase by 10.3% to 1.06 million
- Average orders per week grow 14.7% to 437k
- Improved slot availability and grocery proposition contribute to growth
- Average selling prices dip 0.4% due to investment in price
- Average basket value remains at £120.97
Ocado has increased its full-year revenue growth guidance to low double digits following a strong Q3 performance, driven by a 15.5% increase in retail revenues to £658m and a rise in active customers to 1.06 million. The online grocer attributes the growth to improved slot availability and its grocery proposition. Average orders per week grew 14.7% to 437k, with sales volumes up 15.4%. However, average selling prices dipped 0.4% due to investment in price. Ocado Retail CEO Hannah Gibson highlights the focus on choice, service, and value, citing improvements in slot availability, M&S food offerings, and the Ocado Price Promise.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Ocado’s financial performance, growth in customer base, and strategic focus without any sensationalism or personal perspective.
Noise Level: 3
Noise Justification: The article provides relevant information on Ocado’s financial performance and growth in its online grocery business, with specific numbers and quotes from the CEO. However, it lacks a broader context or analysis of the factors driving this growth and potential future implications for the industry.
Financial Relevance: Yes
Financial Markets Impacted: Ocado’s stock price and competitors in the online grocery market
Financial Rating Justification: The article discusses Ocado’s strong growth, increased revenue guidance, and impact on its online grocery business. This information is relevant to investors and can potentially affect the financial markets as it relates to the company’s performance and competition within the industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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