Morrisons reports 9.4% increase in strong Christmas sales
UK grocery retailer Morrisons has reported sales were up by 9.4% over the Christmas period. In the six weeks to 4 January 2009 like-for-like sales excluding fuel increased by 8.2%. The results come ahead of its financial year end of 1 February 2009. It attributed its success to its focus on fresh food and discount promotions. CEO Marc Bolland said: "I am pleased with Morrisons excellent Christmas trading, having attracted 2.2 million extra customers with great fresh foods and industry leading value."
The retailer is waiting approval to complete the acquisition of 38 Co-operative Group stores which it expects to complete early in the next financial year.
It expects to reach projected sales figures but said: “We remain cautious on the outlook for consumer spending and we expect the market to remain challenging. In this environment we believe Morrisons value credentials will serve us and our customers well.”
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