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Supermarkets

Morrisons reports 5.6% sales increase for Q3

‘Big 4’ retailer Morrisons has reported a 5.6% increase in like-for-like (LFL) sales for the 13 weeks to 4 November 2018, comprising contributions from retail of 1.3% and wholesale of 4.3%.

According to the group retail LFL sales growth eased slightly quarter on quarter “without the impact of the favourable weather and World Cup”, which benefited the retailer during Q2, and it said sales growth during the period “was strong, with a better and broader offer for customers across the whole store”.

The latest report comes off the back of the strong H1 results reported in September, which hit a nine-year high. Like-for-like sales increased by 6.3% and revenue increased by 4.5% to £8.80bn, compared with £8.42bn the previous year, with underlying earnings per share also increasing by 8.5% to 6.28p.

CEO David Potts said: “After another period of strong growth, and with more customers enjoying shopping at Morrisons, we have now completed three years of positive like-for-like. Our exceptional team of food makers and shopkeepers are providing good quality food at great prices, and building a broader offer in store, online and for our wholesale customers.”

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