UK grocery retailer Morrisons has recorded what it described as a “solid performance in a difficult trading environment” for the third quarter of 2010, with like-for-like sales up by 1.3 per cent compared with the same period last year.

In a trading statement, the Yorkshire-based supermarket operator said that total sales, excluding fuel, for the 13 weeks to 31 October 2010 had also increased by 2.8 per cent, following the opening of stores acquired from the Co-operative Group in 2009.

During the third quarter period, Morrisons opened seven new stores, including one replacement, and the retailer said it remained on track to meet its target of adding 400,000ft2 of new space during the year.

Although the retailer said performance in the third quarter had been in line with its expectations, Morrisons’ finance director, Richard Pennycook, said that the trading outlook remained “difficult”, with consumer pressure showing no signs of easing.

However, he added that the company was confident that its “strong value credentials” would mean that it would continue to trade “hard and well”, enabling it to continue to invest in its business.

Topics