Ocado boss Tim Steiner said the pandemic has resulted in a permanent change to the groceries sector
Ocado boss Tim Steiner declared the pandemic has changed the groceries market ‘for good’ after the online shopping firm posted another set of bumper sales.
The British company has added hundreds of thousands of customers during the Covid crisis, as restrictions have driven more shoppers online.
Sales jumped 19.8 per cent higher to £1.2billion in the 26 weeks to May 30, though it made a loss of £23.6million, down from £40.6million a year previously, which it blamed on a series of one-off costs.
However, analysts said the firm had ‘struck gold’ with a partnership with Auchan Retail, which owns Spain’s Alcampo, that could be expanded to other countries.
And although shoppers are cutting down how much they buy on Ocado’s online platform as lockdown restrictions ease, Steiner said the pandemic has resulted in a permanent change to the groceries sector.
The firm still has more than 1m customers on its waiting list.
Steiner said: ‘As we head towards a post Covid-19 future, it is increasingly clear that the landscape for grocery worldwide has changed, for good.’
Shares in Ocado dipped 4.2 per cent, or 83.5p, to 1901.5p.
Ocado will provide its ‘smart platform’ to Alcampo’s, using a robot warehouse that will serve Madrid from 2024, with potential to expand to the 12 other countries Auchan operates in.
Russ Mould, investment director at AJ Bell, said it had ‘struck gold’ adding: ‘Ocado has got its foot in a very important door.’
Ocado has supplied its tech to supermarket groups in the US, France and Japan.
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