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Olympic fears for Ocado as shares slide Tuesday, 26th June 2012
Photo credit: Ocado
Shares in Ocado fell 12 per cent on Tuesday morning after the online grocer said it missed out from a Jubilee sales boost, and admitted there was “uncertainty” about the impact of the Olympics.
The high-end supermarket group, which delivers a mix of Waitrose and its own products to customers in the UK, said orders fell ahead of the Jubilee, which wasn’t helped by the nature of its delivery slot timings which meant customers could not use the retailer for last minute food purchases.
To make matters worse, Ocado admitted that there was “uncertainty” about how the Olympics would impact its business. With half of its sales from within the M25, the retailer is expecting deliveries from within the capital to be disrupted amid the influx of thousands of visitors.
Despite this, Ocado managed to return a profit in the half year to 13 May, as the company saw improvements at its main distribution centre in Hatfield came into effect. Average orders per week rose 13 per cent during the period.