Jan 9, 2018

Morrisons posts better-than-expected Christmas sales

The UK's fourth largest supermarket, Morrisons, continued to ring up growing sales over the key Christmas period. Christmas trading was particularly strong with sales for the last six weeks up 3.7% compared to a year ago. Morrisons said the increase was due to more tills being open, shorter queues, and improved stock availability. "The chain said it had"become more competitive, and despite the rising cost of many commodities the price of a basket of key Christmas items was the same as the previous year. The sales numbers were better than analysts' forecast of about 1.7% for the Christmas period.

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