Morrison’s latest trading update has received a mixed reaction from the City.
The retailer announced like-for-like sales for the half-year to July 24 had risen by five per cent, without fuel, the like-for-like figures were up 2.6 per cent.
Despite this, Morrison’s said it was still “comfortable” with its profits guidance, issued last month, of £50 million to £150m, far below analyst expectations which are reported to be in the region of £225m to £275m.
Some market watchers have treated the sales news as positive, although most are still urging caution.
