Online supermarket Ocado said on Monday that although demand for grocery products was currently strong it was not seeing consumers stockpiling goods such as toilet rolls in preparation for new COVID-19 lockdown restrictions.
“Yes, we are seeing strong demand. No, we’re not seeing particular stockpiling of things, of toilet paper,” Chief Executive Tim Steiner told reporters.
“We are continuing to trade at peak volumes every day which is a very strong sales pattern, hence the upgrade we’ve announced today,” he said.
Steiner was talking after Ocado said it would buy two robotics companies for a total of $287 million (£222 million) and also upgraded its full-year earnings outlook for Ocado Retail Ltd, the joint venture between Marks & Spencer Group and Ocado Group, due to strong fourth quarter trading so far.
Prime Minister Boris Johnson ordered a one-month national lockdown across England to contain a second wave of coronavirus infections.
The lockdown, hastily announced late Saturday following warnings hospitals could be overwhelmed within weeks, is set to come into force from Thursday and end on 2 December.
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