Morrisons enjoys strong first quarter
Morrisons has seen its first quarter group like-for-like sales increase by 3.6% after retail and wholesale like-for-likes both rose by 1.8%.
In statement, the company said it continued to invest in the customer shopping trip in the 13 week period to 6 May and improved its competitiveness. It also launched its ‘Savers’ lowest-priced own label range which initially included almost 300 ambient, chilled and frozen items.
Morrisons said its ‘Nutmeg’ clothing brand is proving popular with customers with the new womenswear range now present in almost 130 stores.
Its new wholesale business saw the supermarket begin to supply the McColl’s convenience chain through a rolling programme of around 25 stores per week during the quarter. These stores receive a full fresh, frozen and ambient offer from Morrisons, comprising both brands and the new Safeway range. It is also supplying some McColl’s stores with tobacco and some ambient products slightly earlier than initially planned.
Morrisons said the wholesale business is on track to meet its target of £700 million of annualised sales by the end of the year.
During the quarter the supermarket opened new stores in Abergavenny and St Ives near Cambridge.
David Potts, Morrisons chief executive, said: “We are pleased to have made a strong start to the year, again becoming more competitive for customers while delivering growth on growth. We expect to continue to improve in the year ahead.
“During a busy period of exciting new ranges, new store openings, strong supermarket and wholesale growth, and the peaks and troughs of the seasons, our colleagues once again did an outstanding job for customers.”
Looking ahead, the supermarket said its expectations for the full year remain unchanged.
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