Morrisons sales accelerate as turnaround strategy bears fruit
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Morrisons has revealed its strongest sales growth for more than a year as the supermarket group’s turnaround gathers pace.
The debt-laden retailer said it was boosted by hot weather and the World Cup over the latest quarter.
Boss Rami Baitieh said the group’s trading was “robust” and surpassed wider UK grocery market after investment into improving its pricing.
The Bradford-based firm revealed that group like-for-like sales grew by 3.2% over the 13 weeks to July 26, compared with the same period a year earlier.
Total sales increased to £4.1 billion for the quarter, the company added.
Mr Baitieh said: “Our stronger sales momentum reflected a broad-based improvement across the business – with our supermarkets, online, convenience, pharmacy and Myton manufacturing businesses all reporting good growth, underlining our progress with our plans to renew and modernise Morrisons.
“We are pleased with our third quarter performance.
“Our stronger like-for-like sales, the combination of lower prices and volume growth, and our market share improvement, are all clear evidence that our strategy is delivering and that we remain on track with our plans.”
