Morrisons Xmas sales fall in 'challenging' conditions
Supermarket group Morrisons reported a fall in like-for-like sales over the Christmas period in what it described as “unusually challenging" conditions and "continued uncertainty" among customers.
Like-for-like sales in the 22 weeks to January 5, group like-for-like sales excluding fuel were down 1.7%, with retail down 1.7% and wholesale of flat at 0.0%.
Group like-for-like sales including fuel fell 2.8%. Total sales were 1.8% lower excluding fuel and down 2.9% including fuel.
Chief executive David Potts said: "It was encouraging that during an unusually challenging period for sales, our execution was strong and our profitability robust, demonstrating the broad-based progress we have made during the turnaround."
Potts added that despite the fall, Morrisons still expected profit for the full year to be within the current range of analyst forecasts.
"We managed costs well throughout the period, offsetting some of the impact on like for like sales of the challenging trading conditions and continued uncertainty amongst customers," he said.