Chain continues to struggle
Morrisons sales slip back further in third quarter
Morrisons 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”.