Morrisons sees strong start to year
Supermarket’s like-for-likes up 5.2 per cent
January 30 2003
Supermarket operator Morrisons saw total store sales increase by 10.4 per cent in the In the four weeks to January 26, with like-for-like sales up 5.2 per cent.
In a trading statement timed to coincide with a store visit by City journalists, the North of England based supermarket chain issued figures which highlight its success in growing its share of the highly competitive UK market.
The figures exclude fuel sales, which increased by 14.5 per cent on a like-for-like basis, taking total like-for-likes 6.3 per cent higher. Non-food sales, seen as a key area for growth by UK supermarkets, are also growing. Homeware and leisure sales were 15.4 per cent higher than in the same period last year, and up 10 per cent like-for-like.
Executive chairman Sir Kenneth Morrison, said: “Following our solid performance over Christmas which has left us in good shape for the start of 2003, I am very pleased that we have made further progress in January, especially in the current environment of price deflation and economic uncertainty. Morrisons prides itself on consistently providing its customers with high quality products at low prices, day in, day out – and the results achieved demonstrate their strong support for our offering.”
Last week, Safeway withdrew its recommendation of Morrisons agreed bid, although Morrisons remains the only potential bidder to have formally tabled an offer.
