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Morrisons sales dip in first quarter

Supermarket chain Morrisons said today that it had made a satisfactory start to its new financial year despite seeing a fall in like-for-like sales.

CITY & CORPORATE

Morrisons sales dip in first quarter

Supermarket chain Morrisons said today that it had made a satisfactory start to its new financial year despite seeing a fall in like-for-like sales.

In the 13 weeks to 29 April, the retailer’s like-for-like sales excluding fuel fell 1% while total sales excluding fuel rose 1.5%.

In a statement Morrisons said: "As expected, the economic environment for the consumer has remained challenging, with the high price of oil and other commodity prices putting pressure on disposable incomes.

"Against this backdrop we have continued to keep prices low for our customers without compromising on Morrisons quality."

However, the group said that the board "remains cautious" due to the uncertain economic background which it expects to remain challenging for the consumer.

Looking forward, Morrisons said its performance in the first quarter was broadly in line with its expectations and its financial outlook for the year remains unchanged.


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