The online grocery delivery service says shoppers are buying less as the cost of living soars.
Ocado Retail - a joint venture between Ocado and Marks & Spencer - said its revenues fell by 3.8% in 2022 to £2.2bn.
It added that this meant shopping basket volumes fell by 12.1% last year, or six fewer items, and shopping frequency also declined. However, Ocado said it had enjoyed record festive sales, which were up 15% over the five days before Christmas. On one of the days it received more than 72,000 orders - a record high.
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