Morrisons has reported a 0.2% increase in like-for-like sales, excluding fuel, in its interim Christmas trading statement for the nine weeks to 3 January.
Morrisons has reported a 0.2% increase in like-for-like sales, excluding fuel, in its interim Christmas trading statement for the nine weeks to 3 January.
However, total sales over the period fell by 1.2%. The number of like-for-like transactions was up by 1.3% year-on-year in the company’s core supermarkets, while online sales grew by almost 100% year-on-year.
The retailer has also announced plans to close seven unprofitable stores, following on from the closure of 11 supermarkets last year and the disposal of 140 M local stores. It says there are no further closures planned.
Chief executive David Potts said: “We are pleased with our improved trading performance over the Christmas period. While there is of course much more to do, we are making important progress in improving all aspects of the shopping trip, and our customers tell us they are pleased with the changes. In addition, we have made further progress in debt reduction, and our financial position is strong and getting stronger.”