Morrisons sees sales growth slow
Morrisons has reported a slowdown in sales growth to just 0.8% in the 13 weeks to 2 May.
The figures are sharply down on the 6% growth rate it achieved in the year to the end of January.
However, the supermarket group says it is confident in its performance and says it continues to outpace its rivals and see a record number of customers.
In an interim statement the company says: “In a challenging environment for the consumer we have continued to invest for the benefit of our customers. Our keen pricing, supported by eye-catching and innovative promotional offers, has again proved successful, as consumers have continued to search for value.”
“We welcomed record numbers of customers into our stores, confirming the continuing appeal of Morrisons as the Food Specialist for Everyone. As expected, commodity prices have continued to ease, resulting in the virtual elimination of food inflation and lower market growth. We are satisfied with our sales performance, which has continued to outpace the market despite facing tough prior year comparative numbers.”
Morrisons recently appointed Dalton Philips, a former Wal-Mart executive, as its new chief executive.
Its former chief executive, Marc Bolland, who left the company in December, has just taken up his new post running Marks and Spencer.