Morrisons achieves 3 years of positive growth
By Ben Stevens - Nov 7th 2018, 10:45
Morrisons has achieved “three years of positive like-for-like” sales after reporting growth across the board in its third quarter.
For the 13 weeks to November 4, the grocer saw group like-for-like sales excluding fuel jump 5.6 per cent helped by a boost in wholesale revenues.
Despite retail sales growth dropping to 1.3 per cent compared to the previous quarter’s 2.5 per cent boost, total sales increased six per cent excluding fuel sales.
Morrisons opened a second fulfilment centre during the period, expanding its home delivery capabilities while launching its new Morrisons More app and store-pick online service.
Thanks to its recent supply deal with McColl’s and additional new partner MPK Garages, Morrisons will soon supply over 1700 convenience stores.
“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," chief executive David Potts said.
“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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Shares in Truworths slumped to a nine-year low on Friday morning after the fashion retailer reported a 74% slide in profits amid difficult trading environments in SA and the UK.
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