THE RETAIL BULLETIN - The home of retail news
20 years serving the retail industry
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
Retail HR 2022
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Morrisons’ sales hit by challenging trading conditions

Morrisons has reported that like-for-like sales excluding fuel dropped by 1.7% in the 22 weeks to 5 January following “unusually challenging” trading conditions. Total sales declined… View Article

FOOD & DRINK

Morrisons’ sales hit by challenging trading conditions

Morrisons has reported that like-for-like sales excluding fuel dropped by 1.7% in the 22 weeks to 5 January following “unusually challenging” trading conditions.

Total sales declined by 1.8%.

Throughout the period, Morrisons focused on pricing  whilst also managing costs. It said most prices for items in a Christmas basket were the same or lower than in the previous year.

David Potts, Morrisons chief executive, said: “It was encouraging that during an unusually challenging period for sales, our execution was strong and our profitability robust, demonstrating the broad-based progress we have made during the turnaround. This was again down to the hard work of Morrisons exceptional team of food makers and shopkeepers. As always, we will take some learnings into the new year, and look forward to 2020 with a strong plan and solid foundations on which to continue to grow.”

With four weeks of its financial year remaining, Morrisons now expects its full year pre-tax profit excluding exceptional items to be within the current range of analysts’ forecasts.

Join Retail Bulletin at our Omnichannel Futures Conference on 5 February. A must-attend event for anyone working in a senior retail role, tickets are available at a half price discounted rate for Retail Bulletin readers which means you can attend for just £125. Register now using the discount code RETAILER50.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News