March 20, 2018 / 7:16 AM / 6 months ago

UK online grocer Ocado meets guidance for quarterly sales growth​

LONDON, March 20 (Reuters) - British online supermarket Ocado on Tuesday reported quarterly retail revenue growth in line with its latest guidance, though trade in the final week of the period was dented by wintry weather.

The firm, which warned on annual earnings last month, said retail revenue rose 11.7 percent to 363.4 million pounds ($510.2 million) in the 13 weeks to March 4, its fiscal first quarter.

That compares with growth in Ocado’s 2016-17 year of 12.4 percent and guidance for the 2017-18 year of growth of 10-15 percent as it increases distribution capacity and grows market share.

Ocado said the outcome for the quarter was impacted by adverse weather conditions in the final week, equivalent to nearly 1 percent of sales. ($1 = 0.7123 pounds) (Reporting by James Davey; editing by Kate Holton)

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