Ocado blames labour shortages for holding back growth

Labour shortages have held back growth at Ocado, as the online grocer struggled to find enough staff to keep up with demand. The company said on Tuesday that sales and profits in its retail business increased last year as shoppers moved online, but the tight labour market, combined with a fire at one of its centres in east London, restricted growth. While order numbers increased last year, the average order size dropped to pre-pandemic levels. Tim Steiner, chief executive, said: "The past year has further reinforced that demand for online grocery is here to stay." Revenues at Ocado Retail, the joint venture it runs with Marks and Spencer, rose 5 per cent to £2.3bn. Group revenue rose 7 per cent to £2.5bn. The online delivery company has invested in infrastructure and warehousing to meet stronger customer demand, as shopping habits have changed during the pandemic.

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