The business, a 50:50 joint venture between Ocado Group and Marks & Spencer, said it now expects a small sales decline over the full 2022 year and core earnings close to break-even.In its third quarter to August 28, sales rose 2.7% to £532m, improving from a decline in the previous three months, and it forecast stronger growth in the fourth quarter.Its average basket size, however, was down 6% at £116 as shoppers sought savings in the face of inflationary pressures.
Ocado Retail also said that higher costs, predominantly energy and dry ice, would weigh on profitability in the fourth quarter.
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