Tuesday, 9 January 2018

UK's fourth largest supermarket Morrisons posts better-than-expected Christmas sales

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

The chain sold 2.8% more in the 10 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.

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

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.

Morrisons' shares rose 4% in early trading following the trading update.

BBC       News.