Morrisons UK’s fourth-biggest supermarket reports third quarter sales rise

(qlmbusinessnews.com via bbc.co.uk – – Thur, 2  Nov 2017) London, Uk – –

Morrisons, the UK’s fourth-biggest supermarket chain, has reported a 2.5% rise in sales for the third quarter.

The rise in like-for-like sales, which measures activity in stores that have been open for more than a year, shows the retailer’s recovery is continuing.

Sales at the supermarket have now grown for eight quarters in a row.

Chief executive David Potts, said: “We again worked hard during the quarter… and made good progress on becoming more competitive.”

While the sales increase in the three months to 29 October is another step forward in Morrisons’ recovery, it is a notch below the 2.6% rise in the previous quarter and is also down on the 3.4% rate seen in the first quarter of this year.

Morrisons has been the best performing of the established “Big Four” UK supermarkets recently, although all chains are attempting to fight off the fierce competition coming from discounters Aldi and Lidl.

One area earmarked for growth is its higher-quality “Best” range. Mr Potts said this was being increased to 1,000 items and would have double the range of items offered this Christmas, compared with last.