MORRISONS continued to grow its share of the market in the first quarter of this year – but more slowly.
A statement by the supermarket group, which was founded by Ken Morrison of Myton-on-Swale, near Boroughbridge, reveals there was continuing investment for the benefit of customers who were in “a challenging environment”, with keen pricing and promotional offers attracting record numbers of shoppers into its stores.
As expected, commodity prices continued to ease, “resulting in the virtual elimination of food inflation and lower market growth”. But sales performance continued to outpace the market.
In the 13 weeks to May 2, total sales excluding fuel at Morrisons, which has stores in Acomb and Foss Islands Road in York, and in Selby, Wetherby, Boroughbridge and Malton, were up by 5.9 per cent (including fuel, 9.5 per cent).
Like-for-like sales on the previous first quarter grew by 0.8 per cent (5.2 per cent including fuel). Morrisons’ net debt “remains in line with expectations”.
It is against this background that the Morrisons board has welcomed its new chief executive, Dalton Philips, who is still familiarising himself with the retailer’s operations.
On the group’s outlook, the board states: “Although we remain cautious on the economic environment and consumer spending, our expectations for the current year remain unchanged.”
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