Member Article

Morrisons to close 10 ‘loss-making’ stores after difficult Christmas period

Bradford-based supermarket Morrisons has reported total sales down by 1.3% for the six week period ending 4 January.

The retailer’s like-for-like sales, excluding fuel, were down 3.1% for the sale period, with online sales contributing just 1% to like-for-like sales during the period.

This news comes after Morrisons’ December announcement, in which the Yorkshire supermarket was branded ‘the worst performer’ of Big Four supermarkets, with sales down 3.2% for the three months to 2 December.

Morrisons has announced it will close 10 ‘loss-making’ stores during 2015, with specific store closures yet to be diclosed.

Chief executive officer, Dalton Philips, said: “I would like to thank colleagues for delivering a stronger Christmas proposition for our customers.

“Our like-for-like sales were a step-up on recent quarters and trends in the key operational measures continued to improve.

“Our three-year cost saving and cash flow targets remain on track.

“Although there is still much to do, we are building the platform to enable us to compete better in an industry that we expect to be highly competitive in the year ahead.”

This was posted in Bdaily's Members' News section by Ellen Forster .