Executive Summary

• Ocado reported 3Q19 retail revenue of £386.3 million, up 11.4% year over year, slightly lower than the 11.5% year-over-year growth rate in 3Q18.
• The company’s average orders per week grew 12.1% year over year, but the average order size was down 0.8% year over year.
• Ocado attributes the growth to capacity enhancements at its fourth customer fulfillment centerin Erith, London.