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05/11/2015
Further Fall In Sales For Morrisons
Morrisons has reported a further fall in sales.
According to the supermarket chain, in the 13 weeks to 1 November, like-for-like sales – which excludes fuel – fell by 2.6%.
Morrisons said the decline is due to a reduction in the number of its promotional vouchers, which had affected sales in the third quarter by some 2.4%.
Despite the fall, however, Chief Executive David Potts said the supermarket was "making good progress in many areas", adding that their priorities included "[to] stabilise trading, reduce costs and further improve the capability of the leadership team."
It is thought the company's underlying pre-tax profit will be higher in the second half of 2015/16 than the first half.
(JP)
According to the supermarket chain, in the 13 weeks to 1 November, like-for-like sales – which excludes fuel – fell by 2.6%.
Morrisons said the decline is due to a reduction in the number of its promotional vouchers, which had affected sales in the third quarter by some 2.4%.
Despite the fall, however, Chief Executive David Potts said the supermarket was "making good progress in many areas", adding that their priorities included "[to] stabilise trading, reduce costs and further improve the capability of the leadership team."
It is thought the company's underlying pre-tax profit will be higher in the second half of 2015/16 than the first half.
(JP)
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Morrisons Record 2.6% Fall In Sales
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