Ocado now worth more than Sainsbury’s, Morrisons and M&S combined

by

Online grocer Ocado now worth more than Sainsbury’s, Morrisons and Marks & Spencer combined after lockdown boost

  • The company’s market value has rocketed 46 per cent this year to £13.1bn 

By Daily Mail City & Finance Reporter

Published: | Updated:

Ocado is worth more than Sainsbury’s, Morrisons and Marks & Spencer combined after coronavirus prompted a surge in food deliveries.

The company’s market value has rocketed 46 per cent this year to £13.1billion. 

The three rival supermarkets, in contrast, have all seen their shares fall and are now worth less than £11billion put together.

On the move: Online grocer Ocado’s market value has rocketed 46 per cent this year to £13.1bn

But Ocado – led by boss Tim Steiner, pictured – is still trailing Tesco, the UK’s biggest retailer, which has a market capitalisation of £23.2billion. 

Marks & Spencer, which was kicked out of the Footsie last year, has lost 56 per cent of its value since the start of January, leaving it worth £1.9billion. 

Sainsbury’s is worth £4.3billion after falling 16 per cent, while Morrisons is down 6.4 per cent at £4.5billion.

Ocado sales have risen 40 per cent since the beginning of March when Britons began panic-buying ahead of lockdown. 

At one point it had to introduce a virtual queuing system online to deal with the high demand, and is still not open to new customers because of a lack of delivery slots.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.