Online supermarket Ocado has revealed that sales its sales growth had slowed slightly in Q4, coming in line with its expectations at 10.8%.
For the 13-week period ending 1 December, Ocado’s revenues reached £429.1m, down from third quarter growth of 11.4%, after it was revealed that a 10.4% growth in weekly orders was held back by flat order size.
However, the group revealed that it is “pleased” with the progress it has made in its joint venture with M&S and that following a range review has confirmed M&S has substitutes at the “same price or lower, and of the same quality or better”, for the majority of the products currently supplied by Waitrose.
It added it also anticipates adding many more additional M&S lines to the range.
Melanie Smith, Ocado Retail CEO, said: “I am pleased to report further progress in bringing the Ocado offer to an ever increasing number of customers in the U.K.
“Another strong quarter for customer orders means that we remain the fastest growing grocer in the country. The collaboration between M&S and Ocado Group is working well.”
She added: “We have made good progress preparing for switchover date in September 2020, when the M&S food range will be available online for the first time.
“We are also planning fresh capacity, to offer customers more availability, and have new customer fulfilment facilities in Bristol and Purfleet, and a rebuilt state of the art facility at Andover, on the way. As a team, we could not be more excited.”