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‘Big Four’ grocer Morrisons has seen a slowdown in sales growth for the 13 weeks to 5 May, with retail sales contributing only 0.2% to the total increase in group like-for-like (LFL) sales of 2.3%.
The figure is lower than the 3.6% increase seen during the same quarter last year, and lower than Morrisons had expected for the period – with an analyst consensus compiled by the company predicting that sales would increase by at least 2.5% according to the Financial Times.
However, the retailer said its retail sales performance was “again robust”, despite political and economic uncertainty continuing to impact consumer confidence. It expects the market to remain “competitive and challenging”.
In a separate update, Morrisons also announced that Ocado will no be its “exclusive digital partner”, which the group said could potentially enable “other significant opportunities, more strategic flexibility, and more profitable growth for Morrisons”.
CEO David Potts said: “We are improving the shopping trip and becoming more competitive for customers, and are pleased with another quarter of positive like-for-like sales.“We will continue this important work, including on those favourite items we know our customers want to buy at Morrisons.”
