Jan 7, 2020

Morrisons sales fall over Christmas period

The UK's fourth largest supermarket group, Morrisons, has said its sales fell over the Christmas period amid "Challenging" trading conditions. The retailer reported a 1.7% fall in like-for-like sales - which strip out the impact of new stores - excluding fuel, for the 22 weeks to 5 January. Figures from data company Nielsen indicated that UK supermarkets experienced the lowest sales growth over the Christmas period for five years. Sales grew by only 0.5% in the last four weeks, it said, with grocery sales reaching a peak at £6.2bn over the two weeks to 28 December - down 0.2% compared with the same period in 2018. "Reflecting on the Morrisons figures, the company's chief executive, David Potts, said:"It was encouraging that during an unusually challenging period for sales, our execution was strong and our profitability robust, demonstrating the broad-based progress we have made during the turnaround.

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