The British supermarket Ocado Retail downgraded its sales estimates for the year, announcing a 5.7% annual decline in revenue in the last quarter, which partly reflects the easing of the overall market.
The company, which is a 50-50 joint venture between Ocado Group and Marks & Spencer, stressed that the decrease in the size of the baskets will offset the increase in the number of consumer transactions in the first quarter of the year, until February 27.
He also announced that he now expects revenue growth in 2022 “closer to 10%”, since last month he had forecast growth of about 15%.
Ocado Retail explains that its skepticism reflects inflation uncertainties, which have risen sharply in recent weeks due to the war in Ukraine, the overall level of market demand and the ongoing return to pre-coronary market patterns.
He also warned that key profit margins could be further affected by significant increases in energy costs.
Source: Capital
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