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Morrisons Q1 sales boosted by wholesale performance

The Morrisons supermarket chain has grown its first quarter like-for-like sales by 2.3% excluding fuel following what it describes as a robust performance in the period…. View Article

FOOD & DRINK

Morrisons Q1 sales boosted by wholesale performance

The Morrisons supermarket chain has grown its first quarter like-for-like sales by 2.3% excluding fuel following what it describes as a robust performance in the period.

In the 13 weeks to 5 May, total sales were up 2.4% when fuel sales were stripped out.

Although the like-for-like increase marks the fourth consecutive first quarter uplift for the retailer, it was below the 3.6% rise seen in the same period last year. Retail’s contribution to the performance was an uplift of 0.2%.

Morrisons said like-for-like sales in the important Easter trading period were up 1.7% on last year and 3.4% up on a two-year basis.

Meanwhile, the retailer’s wholesale business continued to make good progress with like-for-like sales up 2.1%.

David Potts, Morrisons chief executive, said: “We are improving the shopping trip and becoming more competitive for customers, and are pleased with another quarter of positive like-for-like sales. We will continue this important work, including on those favourite items we know our customers want to buy at Morrisons.”

Looking ahead, Morrisons is expecting its market to “remain competitive and challenging” but is confident that growth will be “meaningful and sustainable”.

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