Morrisons reports record Christmas sales

Morrisons has reported “record” Christmas sales as consumers traded down to save cash over the festive period, according to its chief executive Marc Bolland (pictured). The supermarket chain has reported a 8.2% increase in like-for-like sales, excluding fuel, for the six weeks of January 4.

Announcing the results this morning (January 22), Bolland says the supermarket’s “industry leading price crunching deals and promotional offers” attracted 2.2m extra customers over the period.

He added that Morrison’s benefited the most out of all supermarkets from more “affluent customers”, in particular in Scotland and London, trading down from “premium” supermarkets, due to its Market Street fresh food offering.

However, Bolland told analysts that the company spent 25% less on marketing over the Christmas period compared with last year, when it was promoting its newly launched fresh produce range.

The retailer says full-year profit levels for 2008-09 “remain in line with previous board expectations despite the difficult economic environment” and anticipation that the “market would remain challenging” in the face of a slowdown in consumer spending.”

Bolland says he expects the supermarket’s “value credentials” will continue to attract consumers during the downturn.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here