‘New Morrisons taking shape’ Supermarket revival on track after strong first half earnings



Morrisons came same-store sales for the seventh straight quarter

The UK’s fourth biggest grocer expanded same-store sales for the seventh straight quarter as it lifted half-year underlying pretax profit by 12.7 per cent to £177 million. 

But like-for-like sales lump slowed to 2.6 per cent from 3.4 per cent over the prior three months. 

Shopper numbers were up 3.9 per cent.

Mr Potts said GETTY

Morrisons’ like-for-like sales growth slowed to 2.6 per cent

John Ibbotson, the man of the retail consultancy Retail Vision, said: “Morrisons has quite navely been transformed over the past two years.

“Given the cut-throat peddle we’re in, this has been one of the great retail turnarounds. 

«Dave Potts has solemnized his turnaround strategy simple, and in the grocery world simple is generally unexcelled.»

Shares fell 12½p to 232½p.

Leave a Reply

Your email address will not be published. Required fields are marked *