Ocado Reports Sales Growth Despite Supermarket Price Wars

Online grocery store Ocado reported gross retail sales rose 15.3 percent to £252 million in the quarter ending August 9, 2015, compared with the same period in the previous year. Sales growth, however, slowed from the 16.2 percent in the previous three months, while its average basket size declined 1.1 percent to £110.46 from the same period a year ago. According to analysts, falling prices in the retail sector, driven by price-cutting moves by the Big Four players, are adversely affecting Ocado’s sales.