Morrisons has expressed satisfaction at a modest performance in a “tough market” over the festive season and announced its online intentions after prolonged speculation.
Poor weather and reduced consumer spending were “twin challenges” for ceo Dalton Philips as he hailed a “good performance in a tough market”.
Morrisons said like-for-like sales excluding fuel and VAT grew one per cent in the six weeks to 2 January, ahead of forecasts from analysts.
Sales slowed from 1.3 per cent for same-store growth in the quarter to 31 October but the group left its full-year profit expectations unchanged.
The UK's fourth biggest chain said it served an average of two million more customers each week over the Christmas period than five years ago, and in that time has grown total sales excluding fuel by 47 per cent.
The company unveiled plans to trial an online operation this year, following several years of rumours and staunch denial about the retailer’s plans to launch an online venture. It will also trial new convenience stores this year.
The Bradford-based supermarket also announced plans to create 6,000 new jobs - 5,700 jobs by opening new stores and 300 in manufacturing.
Morrisons expects full-year pre-tax profits to the year ending January 31 to be £860 million and has not altered this position.
Philips made his mark on the retailer last week with a management shake up. Gordon Mowat joins from consultants McKinsey as strategy director, Nick Collard has left Boots to become commercial director, and Belinda Young will be in charge of the brand after resigning from Canadian supermarket chain Sobey's. Richard Lancaster has been promoted to marketing director, according to the Daily Mail.
Tesco, Sainsbury’s and Marks & Spencer are all also due to report this week.
Morrisons did not shut any stores during the freezing winter conditions in December and Philips said it was “almost impossible” to calculate the impact of the weather conditions.
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