Executive Summary

• British online grocery retailer Ocado Group announced a 12.5% year-over-year increase in revenues for 1H17, above consensus analyst estimates.
• Contribution operating margin expanded 10 basis points on gross margin expansion of 60 bps. However, EPS declined 12.1% year over year.
• Ocado increased its active customer numbers by 12.7% and grew order numbers by 15.6%, but saw its average basket value decline by 1.4%.