M&S boost10 Nov 2021 13:04
Ocado customer orders grew by about 19%, but revenue slipped 2.7% by the 26 weeks to the end of August 29, adding GBP28.1 million in net income. M&S product sales on Ocado Retail were about GBP309 million, 27% of total sales.
"Food continues to be the star performer for M&S, with the Ocado partnership now sizzling. M&S products already account for about 29% of the Ocado basket, and given Ocado's expansion plans, the growth outlook in this category looks tasty for M&S," commented Ross Hindle, an analyst at Third Bridge 10/11/21