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September 14, 2021

Ocado Retail reports 10.6% fall in third-quarter revenue

The company delivers more than 50,000 products, including both own-brand products and major brands.           

Ocado Retail, a joint venture between Ocado Group and Marks and Spencer (M&S), has reported a 10.6% drop in revenue for the 13 weeks to 29 August.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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The company’s revenue in the quarter was £517.5m, down from £578.8m a year earlier.

Ocado Retail said this was mainly due to a fire that occurred at its customer fulfilment centre (CFC) in Erith, UK, on 16 July after grocery picker robots collided with each other.

During the quarter, the company’s total revenue was 38% higher than the corresponding period of 2019.

The company estimates its total loss from the temporary disruption to be around 300,000 orders, or around £35m of its revenue.

Ocado Retail chief executive officer Melanie Smith said: “There is so much to celebrate at Ocado Retail.

“On 1 September, we marked the one-year anniversary of delivering M&S food to customers, marking a transformational partnership between two iconic British brands.

“We are delighted to see such a positive response from customers to these M&S products, which now represent 29% of the basket.”

Ocado Retail expects robust revenue growth in the coming fiscal year.

The company plans to open CFCs in Andover and Purfleet, UK, to increase its capacity to serve customers.

Another CFC is due to open in Luton by 2023, expected to increase the company’s capacity to 700,000 orders a week.

Ocado Retail chairman Tim Steiner said: “Despite the challenges we faced in the period, I am delighted to report that Ocado Retail is performing well, improving the customer experience even further and continuing to grow the business in a post-lockdown environment.

“With a market-leading customer offer and technology, we are confident [the company] will continue to grow market share as we help them to roll out even more capacity.

“We look forward to Christmas and delivering strong growth in the new financial year, with our long term outlook as compelling as ever.”

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.