Morrison sales in slim rise

first_imgThursday 4 November 2010 3:50 am Morrison sales in slim rise Show Comments ▼ John Dunne whatsapp Share Wm Morrison Supermarkets met forecasts with a modest rise in third-quarter underlying sales as the benefits from a small rise in food price inflation were held back by subdued consumer spending.Britain’s fourth-biggest grocer said sales at stores open over a year rose 1.3 per cent, excluding petrol and VAT sales tax, in the 13 weeks to 31 October. That was up from one per cent in the second quarter.“In a continuing difficult environment for the consumer, performance in the third quarter has been in line with our expectations. Accordingly our financial outlook for the year remains unchanged,” the firm said.Morrison’s has outperformed sales growth at bigger rivals Tesco Asda and J Sainsbury in recent years as it recovered from the botched acquisition of Safeway in 2004 and customers responded to its mix of low prices, fresh food counters and innovative promotions.But it has recently slipped behind Sainsbury, hit by a steeper economic downturn in its heartlands in northern Britain and by a trend towards affordable luxury foods, which has favoured more premium players.Some analysts are also concerned that Morrison’s lacks the diversity of its rivals, although new chief executive Dalton Philips announced plans in September to test convenience stores and selling over the internet next year. center_img whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMoney VersedWoman Shares The 5 Words She Said That Left Her Boyfriend In AweMoney VersedZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald last_img

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