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05/11/2015
Further Fall In Sales For Morrisons
Morrisons has reported a further fall in sales.
According to the supermarket chain, in the 13 weeks to 1 November, like-for-like sales – which excludes fuel – fell by 2.6%.
Morrisons said the decline is due to a reduction in the number of its promotional vouchers, which had affected sales in the third quarter by some 2.4%.
Despite the fall, however, Chief Executive David Potts said the supermarket was "making good progress in many areas", adding that their priorities included "[to] stabilise trading, reduce costs and further improve the capability of the leadership team."
It is thought the company's underlying pre-tax profit will be higher in the second half of 2015/16 than the first half.
(JP)
According to the supermarket chain, in the 13 weeks to 1 November, like-for-like sales – which excludes fuel – fell by 2.6%.
Morrisons said the decline is due to a reduction in the number of its promotional vouchers, which had affected sales in the third quarter by some 2.4%.
Despite the fall, however, Chief Executive David Potts said the supermarket was "making good progress in many areas", adding that their priorities included "[to] stabilise trading, reduce costs and further improve the capability of the leadership team."
It is thought the company's underlying pre-tax profit will be higher in the second half of 2015/16 than the first half.
(JP)
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Morrisons Record 2.6% Fall In Sales
Morrisons has said it has experienced a "solid start" to its financial year, despite falling sales. Over the first quarter of the year, sales have fallen by 2.6%. The figures, on a like-for-like basis, include fuel sales, but total sales contracted by 0.3% as new store openings helped to bolster the business.
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Supermarket chain Sainsbury's has reported another rise in sales for the January to March period - the chain's fifth consecutive quarter of like-for-like sales growth. The chain, the third largest supermarket in the UK, reported a 5.3% rise in like-for-like sales - excluding petrol - during the period.
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