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Ocado has revealed sales increased 10.6% to £645.3m in the 13 weeks to 3 March 2024, up from £583.7m the previous year.
It comes as the online supermarket said active shopper numbers for the group rose 6.4% to one million as average orders per week of 414,000 grew 8.4% compared with Q1 2023.
Volumes increased by 8.1% to £242.1m with the average basket value also increasing by 2.1% to £125.4m.
As a result, Ocado has maintained its FY23 guidance issued on 29 February which reported a revenue growth percentage of mid-high single digits and an EBITDA margin of 2.5%.
Hannah Gibson, Ocado retail’s chief executive officer, said: “We have made a strong start to the year, building on the momentum we established in 2023 through the progress of our Perfect Execution programme. We are delivering improvements in our proposition for customers, across unbeatable choice, unrivalled service and reassuringly good value.
“During the first quarter, we stepped up our efforts: enriching our product range with the strong growth of core M&S grocery lines and the debut of Makers Market, using our unique model to showcase incredible small brands; further enhancing slot and product availability; and lowering the price of 1,700 more products in our latest Big Price Drop promotion alongside further expanding the Ocado Own Range.”
Gibson concluded: “Our strategy is resonating with customers and volume growth is building well. There’s still so much more we can do and I’m looking forward to raising the bar even further in 2024.”
