Morrisons announces strong start to 2018

Supermarket giant Morrisons has reported a strong start to 2018, with like-for-like sales increasing by 3.4% during the 13 weeks to 30 April.

The figure is comprised of retail sales, 3.0%, and wholesale, 0.4%. Total sales were up 2.8% (up 5.8% including fuel) as a result of store closures in 2017.

In a statement the group said: “There was inflation during the period, as imported food prices were affected by lower sterling.” Despite this the company said it will still be implementing another wave of ‘price crunch’ prices across its product range.

David Potts, CEO of Morrisons, said: “Our new financial year has started well, thanks once again to the dedication of our team of food makers and shopkeepers. We are improving the shopping trip in many different ways, which is making Morrisons more popular and accessible for customers.

“These new initiatives in-store, online, in wholesale and services are beginning to build a broader, stronger Morrisons. We are confident we will continue to turnaround and grow Morrisons.”

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