THE RETAIL BULLETIN - The home of retail news
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
Online Conversion Webinar 2020
Future of Retail Marketing 2020
The HR Summit 2020
The Future Of AI in Retail Conference 2020
Omnichannel Futures Conference 2021
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Morrisons posts full year profit uplift

Morrisons has reported that pre-tax profit before exceptional items increased by 3% to £408 million in the year to 2 February. However, total revenue fell by… View Article

FOOD & DRINK

Morrisons posts full year profit uplift

Morrisons has reported that pre-tax profit before exceptional items increased by 3% to £408 million in the year to 2 February.

However, total revenue fell by 1.1% to £17.5 billion while group like-for-like retail sales dropped by 0.8%%

The supermarket said trading in the year was impacted by the prolonged debate over Brexit and the December election which occurred during its peak trading period. In addition, it said the food retail market became even more competitive with much higher levels of promotional activity.

Commenting on recent trading, Morrisons said its like-for-like sales increased by 5% in the first six weeks of its new financial year as fears over the coronavirus meant customers began stocking up.

Andrew Higginson, Morrison chairman, and David Potts, the company’s chief executive, said:  “We are currently facing unprecedented challenges and uncertainty dealing with COVID-19. Looking after our colleagues and customers is our priority, ensuring that we have a clean, safe place to shop and work.

“At Morrisons, we have a strong, experienced, and above all, determined team of the best food makers and shopkeepers in Britain. We promise to work as hard as we can for customers, suppliers, and all stakeholders to keep our shops operating as smoothly as possible.“

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

Online Conversion Webinar 2020
Online Conversion Webinar 2020
April 30 2020
Now online - Please register for details
The Retail Bulletin Online Conversion Webinar 2020 Partnered by IMRG
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Now online, please register for details
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
The Future Of AI in Retail Conference 2020
The Future Of 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
Omnichannel Futures Conference 2021
Omnichannel Futures Conference 2021
3 February 2021
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