Ocado eyes increased sales growth in Q4
Online grocer Ocado said gross sales increased 9.9 per cent in the 12 weeks to August 5th 2012 and expects an increase in the rate of sale growth in the fourth quarter.
Online grocer Ocado said gross sales increased 9.9 per cent in the 12 weeks to August 5th 2012 and expects an increase in the rate of sale growth in the fourth quarter.
Year to date gross sales growth to the end of the third quarter was 11.3%.
Average orders per week for the 12 weeks to Aug 5th increased by 8.6% to 120,494 while average order size for the period was £112.44 compared to £111.08 in equivalent period in 2011.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Whilst we do not expect consumer pressure and volatility to ease in the immediate future, we anticipate an increase in the rate of sales growth in Q4," the group said.
Chief Executive Officer Tim Steiner added: "The grocery market and the general economic picture remain challenging, with consumer confidence subdued and significant competitive couponing activity."
"Notwithstanding this environment, we have continued to build on the foundations we have put in place to deliver growth and operational improvement through the rest of this year and for the future, and we are targeting an increase in sales growth through the remainder of the period."
CJ
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is a trust – and should you use it to avoid inheritance tax?
Trusts are surging in popularity as a way to avoid inheritance tax, according to financial advisers on the frontline of estate planning. We look at what trusts are and if they are right for you.
-
What will be the consequences of Donald Trump’s "One Big Beautiful Bill"?
The US president’s "One Big Beautiful Bill", an extraordinary mix of tax cuts and spending plans, has made it through both houses of the US Congress. What will be the consequences?