Morrisons ‘bounces back’ with 3.9% increase in like-for-like sales
Morrisons has posted a 3.9% increase in second quarter like-for-like sales after bouncing back from the impact of a Blue Yonder cyber attack last November.
In the 13 weeks to 27 April, total sales rose by 4.2% to £3.9 billion while underlying EBITDA climbed by 7.2% to £344 million in the supermarket’s first half.
Subscribe to TRBRami Baitiéh, chief executive of Morrisons, said: “I’m pleased to report that Morrisons has bounced back strongly from the disruption of the Blue Yonder cyber attack in November 2024 with like-for-like sales growth of 3.9% in the second quarter.
“Against the backdrop of a challenging macro environment, with inflation driving subdued consumer sentiment, value remains at the forefront of customers’ minds.
“Throughout the first half we’ve worked hard on helping customers through these challenges with a rigorous focus on price, promotions and meaningful rewards for loyalty.”
During the quarter, Morrisons trialled some new in-store initiatives, including a more focused range, a new look Market Street and and a new World Foods offering. In addition, it grew its convenience business by opening 42 franchise stores to bring the total number of Morrisons Daily shops to over 1,700, an increase of 120 year-on-year.
Morrisons also made a further £58 million of cost savings and has now exceeded its initial £700 million target.
Jo Goff, Morrisons chief financial officer said: “We’ve delivered a solid performance for Q2, reflecting the broad-based progress being made across the business.
“In addition, we are successfully delivering further cost savings to enable us to continue to offset cost headwinds.
“Having delivered over £700 million, our target has now been increased to £1 billion, with the remaining savings to be delivered over the next 18 months.”
