Morrisons triples online sales despite “severely testing” year
Supermarket brand Morrisons tripled online sales over 12 months despite the resilience of the business being “severely tested” by the pandemic.
The group has seen its online sales grow threefold due to the increased demand for home delivery during the COVID-19 crisis. The company also bolstered its online presence through a new partnership with Amazon.
In results published today for the 52 weeks ending January 31, Morrisons’ profit before tax and exceptionals were down 50.7 per cent to £201m compared with the previous period.
However, the firm added that profits would have been up 5.6 per cent to £431m before the payment of £230m of waived government business rates relief.
Andrew Higginson, Morrisons chair, commented: “This has been a year where Morrisons resilience has been severely tested and I could not be more proud of the way the whole business has met that test.
“As we look forward to brighter times ahead, Morrisons is developing into a stronger, better business with deeper and closer relationships with our customers and the communities we serve.”
David Potts, Morrisons chief executive, added: “Morrisons key workers have played a vital role for all our stakeholders during the pandemic, especially the most vulnerable in British society, and their achievements over the last year have been remarkable.
“I’m pleased with the greater recognition, warmth and affection for the Morrisons brand from all corners of the nation, following a year like no other.
“We must now look forward with hope towards better times for all, and we’re confident we can take our strong momentum into the new year, targeting profit growth and significantly lower net debt during 2021/22.”
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