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Ocado highlights pricing pressures as sales growth maintained
March 14, 2017 / 7:18 AM / 9 months ago

Ocado highlights pricing pressures as sales growth maintained

LONDON, March 14 (Reuters) - Ocado, the British online supermarket, said there were signs of pricing pressures in the market, though it did maintain its rate of sales growth in its latest quarter.

“While the market remains very competitive, there are the first signs of a change in market pricing dynamics coming through,” Chief Executive Tim Steiner said on Tuesday.

“However, it remains too early to predict how this will unfold throughout the year, and in particular is dependent on any future currency movements.”

The firm said gross retail sales rose 13.1 percent in the 13 weeks to Feb. 26, its fiscal first quarter - the same rate of growth as the previous quarter.

Ocado said it expected to continue to grow ahead of the online grocery market, and substantially ahead of the market overall. (Reporting by James Davey, Editing by Paul Sandle)

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