Ocado Group (LSE: OCDO) is a British online retailer for groceries and general merchandise. The company has been listed on the London Stock Exchange since 2010. Ocado owns a 50% stake in Ocado.com (jointly owned by Marks & Spencer), which had ~1,000,000 customers making 400,000 orders per week in 2023. The company generated a total revenue of GBP 2.8 billion (USD 3.5 billion) in 2023 (year ending November 27).
Ocado’s three operating segments are Retail, Technology Solutions, and Logistics. The Retail segment (~68% of total revenue in 2023) provides online grocery and general merchandise retailing within the UK. The Technology solution segment (~12%) provides an IT platform and customer fulfillment centers (CFCs). The Logistics segment (~19%) provides logistics for UK-based customers (Wm Morrison Supermarkets and Ocado Retail) and end-to-end online retail solutions to corporate customers outside the UK via the Ocado Smart Platform (OSP).
The UK accounted for ~87% of Ocado’s total revenue in 2023. Ocado is committed to reach the net-zero status in its operations by 2035 and across its value chain by 2040.
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