Christmas cheer for Morrisons
In the pre- close update ahead of its financial year end on 31 January 2011, Morrisons have announced that in the 6 weeks to 2 January total sales (exc vat), excluding fuel were up by 3.1% (4.7% including fuel).
Like for like sales (exc vat) grew by 1.0% (4.0% including fuel), building on the growth reported over the past four years.
Morrisons served an average of 2 million more customers each week over the Christmas period than five years ago, and in that time has grown total sales excluding fuel by 47%.
The Board’s expectations for the full year remain unchanged. Looking ahead, they said the company remains well positioned to make progress whilst recognising that in 2011 the economic background for the UK consumer will be challenging with disposable incomes coming under increasing pressure, through a combination of the recent VAT increase and public service spending cuts.
Commenting on Morrisons Christmas trading, Chief Executive Officer Dalton Philips said,“This has been another good performance in a tough market. At Christmas, when customers are even more focused on great quality food at outstanding value, the Morrisons differences really stand out. I’m very pleased with the way the whole business has risen to the twin challenges of a difficult consumer environment and a prolonged spell of adverse weather and really want to thank all our 130,000 colleagues for going above and beyond the call of duty again this year, to ensure we served our customers well during this critical time.”
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