Partner Article

Morrisons suffer sales slide

Supermarket chain Morrisons have reported a drop in sales of 2.1%, owing to what it says is “still fragile” consumer confidence.

In the quarter to October 28, total sales, excluding fuel, were down 0.4% and like-for-like sales were down 2.1%.

A trading statement from the firm said the environment remained challenging, and sales were “lower than anticipated.”

Throughout the period, Morrisons have introduced new product formats into 35 stores, and have launched Morrisons Cellar, an online wine operation.

The company said: “We expect the market to remain challenging for the remainder of the year. However we continue to manage the business tightly and anticipate that our full year financial performance will be broadly in line with our expectations.”

This was posted in Bdaily's Members' News section by Tom Keighley .