Ocado Surpasses Sales Expectations in Q4 2024

Ocado Group Plc has reported a strong increase in sales for its online grocery arm, driven by competitive pricing and strategic partnerships. In the fourth quarter, Ocado's joint venture with Marks & Spencer saw a 17.5% rise in sales to £716 million, surpassing analyst expectations of £682 million. The growth was driven by a 17% increase in order volumes and an expanded customer base, with 1.1 million active customers. Ocado experienced its highest sales during the Christmas period, with popular items including M&S party food selections. Currently, Ocado is the UK’s fastest-growing grocer with a 1.8% market share, aiming for further progress in the coming year with a focus on cost-effective offerings and enhanced customer service. CEO Hannah Gibson highlighted the importance of price adjustments and service improvements in attracting new customers and maintaining growth momentum.