Supermarket Ocado enjoying another blockbuster year

Ocado is enjoying a third year as one of the FTSE 100’s blockbuster stocks. 

Shares in the business doubled in 2018, rose more than 60 per cent in 2019 and are up around 80 per cent so far this year. 

Since the Covid-19 outbreak and lockdown, investors have watched the online grocery market notch up years of growth in a matter of months. 

At its last outing, Ocado’s UK grocer business reported £1billion half-year sales for the first time. Ocado was also the fastest growing supermarket in the three months to August, according to data company Kantar, with business up 45.5 per cent on a year earlier. 

Ocado’s breakneck expansion provides a glimmer of hope for Marks & Spencer, which started selling 6,000 of its products on the online grocer’s website on September 1. 

Next week’s announcement will be the first insight into how M&S and Ocado customers are responding to the businesses’ £750m gamble. 

But Ocado’s sky-high valuation depends on its robotic warehouse technology business, called Ocado Solutions. 

Analysts at Peel Hunt said ‘the forced shift to online has shown the potential of its model’ – and that means more deals could come knocking. 

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