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Morrisons' third quarter sales down 2.6%
retail,suprmarkets

Like-for-like sales at Morrisons edged down 2.6% excluding fuel in the third quarter of the supermarket’s financial year.

GENERAL MERCHANDISE

Morrisons' third quarter sales down 2.6%

Like-for-like sales at Morrisons edged down 2.6% excluding fuel in the third quarter of the supermarket’s financial year.

In the 13 weeks to 1 November, total sales excluding fuel were down 2%.

Despite the sales fall, Morrisons said it was making good progress in its plans to turn the business around.

Morrisons’ chief executive David Potts said: "The business is moving at pace on the long journey towards improving the shopping trip for customers. Our priorities for the rest of the year are unchanged - to stabilise trading, reduce costs and further improve the capability of the leadership team. We are making good progress in many areas and customers are noticing improvements."

The supermarket continued to invest in lower prices in the period while reducing the number of promotional vouchers in circulation. This impacted year-on-year third quarter sales by 2.4%.

Looking ahead, Morrisons said: “As previously guided, we expect that underlying profit before tax will be higher in the second half of 2015/16 than the first.”

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