Main Menu

Chain continues to struggle

Morrisons sales slip back further in third quarter

MorrisonsMorrisons saw a further fall in underlying sales in the third quarter as it took a hit from its own discounting.

Sales at stores open at least a year, excluding fuel, fell 2.6% in the 13 weeks to 1 November, worse than an expected dip  of between 1.8 % and 25%.

Britain’s fourth biggest supermarket chain said it expects underlying pretax profit will be higher in the second half.

Chief executive David Potts said the retailer was “making good progress in many areas”.

He said the company’s priorities remained “to stabilise trading, reduce costs and further improve the capability of the leadership team”.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.