Morrisons like for like sales up 3.7 per cent over Xmas

10 Enero, 2018, 01:02 | Author: Thomas Hicks
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Morrisons announced a deal to supply convenience chain McColl's in August, and revealed that it supplied tobacco to some of the almost 2000 stores earlier than expected, boosting its wholesale figures by 0.7 per cent.

Shares rose on the update, and were up 4.5 per cent in early trading.

The chain also enjoyed "particularly strong" sales over a shorter six-week period to January 7, with retail jumping by 2.8pc and wholesale growing by 0.9pc.

It said an increasing number of customers were heading to the supermarket, with like-for-like transactions up 2.3 per cent year-on-year.

The supermarket giant also reported a 25% increase in sales of its "Best" premium range, while its food-to-order sales were up by more than 50%, with the service available in-store and online.

Morrisons.com sales grew over 10%.

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Catherine Shuttleworth, chief executive at retail marketing agency Savvy, said: "Better than anticipated results from Morrisons this morning showing that shoppers spent a greater proportion of their Xmas cash with the supermarkets this year".

Morrisons' Christmas trading in particular will be welcome news for investors after it topped consensus.

Automated ordering was live in all stores across most categories, Morrisons said, which helped maintain stock levels throughout the period, while customer satisfaction improved year on year.

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". This strategy appears to have borne fruit in the form of volume growth however.

After some successful trials, the previously announced agreement to start supplying all 1,650 McColl's stores with both Safeway products and national brands will begin this month.

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