THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
• Omnichannel Futures Conference 2020
• Online Conversion Summit 2020
• Future of Retail Marketing 2020
• The HR Summit 2020
• AI in Retail Conference 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Morrisons increases first half profit

Morrisons has increased its pre-tax profit before exceptional items by 5.3% to £198 million in its first half. Group like-for-like sales excluding fuel edged up 0.2%… View Article

FOOD & DRINK

Morrisons increases first half profit

Morrisons has increased its pre-tax profit before exceptional items by 5.3% to £198 million in its first half.

Group like-for-like sales excluding fuel edged up 0.2% in the six months to 4 August but fell by 1.9% in the retailer’s second quarter. Retail’s contribution to like-for-likes sales in the six month period was down 1.1%.

Meanwhile, total revenue was up 0.4% to £8.83 billion in the half year.

Morrisons said its retail sales were impacted by a competitive and challenging market due to weak consumer confidence and the uncertainty surrounding Brexit.

David Potts, Morrisons chief executive, added: “We stayed focused on our Fix, Rebuild and Grow strategy, and were pleased to maintain the momentum of the turnaround against strong comparatives last year. Sales and profit progress was robust, and we again invested in improving our competitiveness for customers.”

The supermarket has also announced an extension of its partnership with Amazon on a same-day grocery delivery service. The retailers have signed an agreement to partner together over a number of years rather than on a rolling basis. They will also be exploring new opportunities to innovate and improve the shopping experience for  customers.

The service is currently available to Amazon Prime Now customers in Leeds, Manchester, Birmingham and parts of London and the Home Counties. It will be extended to Glasgow, Newcastle, Liverpool, Sheffield and Portsmouth throughout the rest of 2019.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Online Conversion Summit 2020
Online Conversion Summit 2020
April 30 2020
The Hallam Conference Centre, London W1W 6JJ
The Retail Bulletin Online Conversion Summit 2020 Partnered by IMRG
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, 44 Hallam St, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2020
AI in Retail Conference 2020
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY