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Morrisons posts better-than-expected Christmas sales | Morrisons posts better-than-expected Christmas sales |
(35 minutes later) | |
The UK's fourth largest supermarket, Morrisons, continued to ring up growing sales over the key Christmas period. | The UK's fourth largest supermarket, Morrisons, continued to ring up growing sales over the key Christmas period. |
The chain sold 2.8% more in the ten weeks to 7 January than it did for the same period a year earlier, not including new store openings. | The chain sold 2.8% more in the ten weeks to 7 January than it did for the same period a year earlier, not including new store openings. |
Christmas trading was particularly strong with sales for the last six weeks up 3.7% compared to a year ago. | 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. | |
Higher inflation and squeezed incomes has resulted in consumers spending more of their household budget on "essential items" including food, according to the British Retail Consortium. | |
"More and more customers found more things they wanted to buy at competitive prices at Morrisons this Christmas," said chief executive David Potts. | "More and more customers found more things they wanted to buy at competitive prices at Morrisons this Christmas," said chief executive David Potts. |
The sales numbers were better than analysts' forecast of about 1.7% for the Christmas period. | The sales numbers were better than analysts' forecast of about 1.7% for the Christmas period. |
Morrisons' like-for-like sales have risen for the last eight consecutive quarters as the chain focuses on expanding its home delivery services via link-ups with both Ocado and Amazon. | |
It has also expanded its premium "Best" range of goods. | It has also expanded its premium "Best" range of goods. |
Retail sales, including in stores and online, but excluding fuel, were up 2.1% for the ten weeks to 7 January. Wholesale sales to other outlets, including the convenience shop chain, McColls, were 0.7% higher. | |
Several retailers announce trading updates this week, including Sainsbury's, Tesco and Marks and Spencer. | Several retailers announce trading updates this week, including Sainsbury's, Tesco and Marks and Spencer. |