Dec 14, 2021
Ocado Retail revenues to fall from last year
Online grocer Ocado Retail said fourth-quarter revenues would fall year-on-year, and warned that profitability in 2022 would be affected by heavy investment. The company, a joint venture between Ocado and Marks and Spencer, said revenue and profits for 2021 would be in line with previous guidance and that sales growth in 2022 would be "At the top end of the historic pre-Covid range of 10-15 per cent" as new capacity comes on stream. Profitability next year will be limited by investment, including recruitment, marketing and increased fees payable to parent company Ocado for the use of its technology. The update follows news late on Monday evening that Ocado had won a patent infringement case brought by AutoStore, a Norwegian warehouse automation company, at the US International Trade Commission. The ITC held that three of AutoStore's patents were not valid and a fourth was not infringed by Ocado.
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