Online grocer Ocado is celebrating a return to profit for the year after its retail arm delivered strong sales. In the three months to November 26, sales climbed by 11% to £609 million, following a first-half loss of £2.5 million. The positive results also helped lift annual sales in its retail division, a joint venture with Marks & Spencer, by 7% to £2.4 billion. Ocado attributed its success to price-matching with Tesco and improved service, as well as cost-cutting measures.
Ocado's Retail Arm Delivers
Ocado's retail arm has boosted the company's profits by 11% to £609 million in the three months to November 26. The positive results follow a first-half loss of £2.5 million. Ocado, a joint venture with Marks & Spencer, has also seen annual sales in its retail division rise by 7% to £2.4 billion. The company attributes its success to price-matching with Tesco and improved service, as well as cost-cutting measures.
Ocado's Strong Finish
Online grocer Ocado is celebrating a strong finish to the year, with profits climbing by 11% to £609 million in the three months to November 26. The positive results follow a first-half loss of £2.5 million. Annual sales in its retail division, a joint venture with Marks & Spencer, also rose by 7% to £2.4 billion. Ocado credits its success to price-matching with Tesco and improved service, as well as cost-cutting measures.
Ocado's Confident Outlook
Ocado is confidently predicting positive results for the year after its retail arm delivered strong sales. In the three months to November 26, profits climbed by 11% to £609 million, following a first-half loss of £2.5 million. The company also saw a 7% rise in annual sales in its retail division, a joint venture with Marks & Spencer. Ocado attributes its success to price-matching with Tesco and improved service, as well as cost-cutting measures.
Ocado's Success Amidst Pandemic
Ocado has reported a return to profit for the year after its retail arm delivered strong sales. In the three months to November 26, profits climbed by 11% to £609 million, following a first-half loss of £2.5 million. The positive results come as the company cashed in during the pandemic but had to battle a slump after shoppers returned to supermarkets. Ocado credits its success to price-matching with Tesco and improved service, as well as cost-cutting measures.
Ocado's Cost-Cutting Measures
Ocado has reported a return to profit for the year, thanks to cost-cutting measures and improved service. In the three months to November 26, profits climbed by 11% to £609 million, following a first-half loss of £2.5 million. The company also saw a 7% rise in annual sales in its retail division, a joint venture with Marks & Spencer. Ocado credits its success to price-matching with Tesco and improved service, as well as shutting down an old warehouse.
Did you miss our previous article…
https://hellofaread.com/money/martin-lewis-reveals-simple-trick-to-slash-household-bills-by-500/
