Ocado said sales dropped in its first quarter as shoppers returned to pre-Covid buying habits, and warned it was difficult to predict what the impact on business would be of rising food prices coupled with the cost of living crisis.
The online supermarket, which said it was implementing cost cuts to protect profits, said revenues fell 5.7% to £564.7m year-on-year in the 13 weeks to 27 February as an increase in its number of customers and transactions was offset by a steep fall in the amount being spent online.
