Morrisons cautious despite sales rise
Morrisons has posted a strong sales increase for the first quarter of the year as its petrol and Price Crunch promotions and the royal wedding helped boost sales.
The supermarket says sales increased 4.2% during the period. Like for like sales, which strip out new stores increased 2.5%.
Morrisons says its promotions such as Price Crunch, Fuel Britannia and Let’s Celebrate Easter campaign have attracted record number of shoppers to stores during the period.
Despite the sales increases, Morrisons remains cautious about the “challenging economic backdrop” and rising oil and commodities prices putting pressure on shoppers.
The supermarket intends to continue to focus on delivering profitable growth through initiatives such as convenience stores and online operations, as outlined by CEO Dalton Philips earlier in the year.
In a statement the supermarket says: “In this environment our unique fresh and quality offer, backed by value pricing and an outstanding and innovative promotional programme has again proved to be exactly what consumers want.”
