Morrisons posts better-than-expected Christmas sales


Morrisons shopping basketImage copyright

The UK’s fourth largest supermarket, Morrisons, continued to ring up growing sales over the key Christmas period.

Morrisons said the increase was due to more tills being open, shorter queues, and improved stock availability.

The chain sold 2.8% more in the ten weeks to 7 January than it did for the same period a year earlier, not including new store openings.

Christmas trading was particularly strong with sales for the last six weeks up 3.7% compared to a year ago.

The chain said it had “become more competitive” and despite the rising cost of many commodities, the price of a basket of key Christmas items was the same as the previous year.

“More and more customers found more things they wanted to buy at competitive prices at Morrisons this Christmas,” said chief executive David Potts.

The sales numbers were better than analysts’ forecast of about 1.7% for the Christmas period.

Morrisons’ like-for-like sales have risen for the last nine consecutive quarters as the chain focuses on expanding its home delivery services via link-ups with both Ocado and Amazon.

It has also expanded its premium “Best” range of goods.

Retail sales for the final quarter of 2017 were up 2.1% and wholesale sales to other outlets, including the convenience shop chain, McColls, were 0.7% higher.

Several retailers announce trading updates this week, including Sainsbury’s, Tesco and Marks and Spencer.

Source link

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Donald Trump and the US economy in six charts

Donald Trump took his place in the White House exactly one year ago. Since then he has repeatedly claimed to be behind a new rise in the American economy. Here, six charts explore his relationship with US growth, the labour market and trade. 1. The American economy is growing Donald …

Carillion: The signals that the company was going bust

Image copyright Getty Images Carillion’s collapse was for many people a bolt from the blue – a large UK company that had no obvious problems went bust in a little more than a year. Even the company’s directors seemed to have no idea what was about to happen. In the …

Dixons Carphone boss leaves for Boots

Image copyright Dixons Carphone Image caption Dixons Carphone employs over 42,000 people in nine countries The chief executive of Currys PC World and Carphone Warehouse is leaving to join High Street chemist Boots. Dixons Carphone confirmed the departure of its boss Sebastian James, just days before it reports its results …