“The rapid acceleration of many pre-existing
trends in business and society has been a
feature of the COVID-19 crisis, and the dramatic
channel shift in grocery is a clear example
of this,” Chief Executive Tim Steiner said in a
statement. “The landscape for food retailing is
changing for good.”
Ocado invested 525.6 million pounds in
expanding the business and improving
technology, more than double the previous
year’s capital spending. That means the
company still reported a pretax loss of 44 million
pounds, down from 214.5 million pounds in the
year-earlier period.