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OCDDY - Beware U.K. Supermarkets - The Market Might Be Overvaluing
Ocado Group Plc Hatfield ADR
The lockdown effect
As the lockdown went into effect, the supermarkets saw a boom in sales. That's fairly obvious, given that we all saw - or experienced directly - the pictures of empty shelves and so on. Some chains were reporting rises in sales of as much as 50%. Pretty cool.
This obviously has a knock-on effect on profits. The same overheads - rent, electricity etc. didn't get any more expensive nor was anyone using any more property - but the throughput was greater. Also, there wasn't much point in running discount offers, so that