May 12, 2020

Morrisons highlights slump at petrol pumps

For the first quarter of its financial year, retail sales excluding fuel were up 5.1 per cent while total revenues - which include the group's wholesale business - grew 5.7 per cent. Sales growth in the final two weeks of the period accelerated to 9.6 per cent. Group same-store sales fell 3.9 per cent in the first quarter compared with growth of 2.7 per cent last year. In common with rivals, Morrisons said petrol sales had fallen by as much as 70 per cent as locked-down Britons took fewer trips. Its wholesale division supplies Amazon, and an expansion of that service to cities outside London will take volumes to an estimated 1 per cent of group sales per week.

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