Consumer
Ocado Grocery Arm Posts Upbeat Sales Thanks to Discounts and Deals
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Ocado Group Plc’s online grocery arm recorded better-than-expected sales in the fourth quarter, after luring more customers through deals and discounts.
Sales at the joint venture with Marks & Spencer Group Plc rose 17.5% to £716 million ($875 million) in the 13 weeks to Dec. 1 compared with the £682 million expected by analysts. While the amount shoppers were buying each time and pricing stayed flat, order volumes increased 17% and the customer base expanded.