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Ocado Retail Q1 Retail Revenue Up 39.7% - Quick Facts

British online supermarket Ocado Group (OCDO.L) said that Ocado Retail Ltd, a joint venture between the company and Marks & Spencer Group plc, reported a 39.7% rise in retail revenue for the 13 weeks ended 28 February 2021.

Retail Revenue for the period grew 39.7% to 599.0 million pounds from last year's 428.8 million pounds, reflecting strong demand for online grocery and the continuation of a smoothed trading week.

Average orders per week grew 2.5% to 329,000 from 321,000 in the previous year. Average order size was 147 pounds, a result of seasonal strength over the festive period and a temporary reversal of the trend towards normalized shopping behavior in response to further national lockdown measures in the U.K.

The company expects positive revenue growth in the second quarter versus the corresponding period last year as it continues to ramp the Bristol Customer Fulfilment Centre and restrictions on social distancing continue in the UK.

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