Ocado sales up 25pc

first_img Share Friday 4 March 2011 3:06 am Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealthyTed Health Magazine10 Surprising Benefits of Bananas You Possibly Didn’t Know AboutHealthyTed Health MagazineUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoTaonga: The Island FarmAdvertisement The Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoForge of Empires – Free Online GameIf You Like to Play, this City-Building Game is a Must-Have. No Install.Forge of Empires – Free Online GameUndoElvenarAdvertisement If You Need to Kill Time on Your Computer, this Fantasy Game is a Must-Have. No Install.ElvenarUndoAll Things Auto | Search AdsNew Acura’s Finally On SaleAll Things Auto | Search AdsUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoBest Selling Grills | Search AdsTraeger Blaze & American Grills On SaleBest Selling Grills | Search AdsUndoSonoviaStoreThese Amazing Pillowcases Got It Just Right!SonoviaStoreUndo John Dunne Online grocer Ocado posted a 25 per cent rise in first-quarter sales and said it remained profitable, despite a challenging economic backdrop which has hit many retailers hard.The group, which mostly sells the products of grocer Waitrose, said it made gross sales of £146.2m in the 12 weeks to 20 February, in line with the trend reported at annual results last month.“Despite the economic headwinds in the UK, more and more consumers are seeing the benefits of online grocery shopping and we are increasing capacity to meet this demand,” Chief executive Tim Steiner said.Many retailers are struggling as shoppers face higher energy and food prices and worry about rising interest rates and job security as the government cuts public spending.Ocado has said capacity constraints at its distribution centre in Hatfield are its main brake on growth.It is investing to increase capacity to 180,000 orders per week, up from a maximum of around 124,000 in the first quarter and also building a new distribution centre for the end of 2012.Ocado shares have been on a rollercoaster ride since listing at 180 pence in July.After dropping to 120.9 pence last year, they rallied to as high as 290 pence this year as the group announced its first quarterly pretax profit and speculation swirled it might become a bid target for a British grocer or US group Amazon.They have since fallen back after the pension fund of retailer John Lewis, the parent company of Waitrose, sold its ten per cent stake in the business and Waitrose stepped up investment in its own online business. Ocado sales up 25pc whatsappcenter_img More From Our Partners Porsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Tags: NULL whatsapp Show Comments ▼ last_img read more