Major supermarket Morrisons has revealed a further strong sales growth in its latest trading update.
The Bradford-based chain saw like-for-like sales, excluding fuel, rise by seven per cent during the 13 weeks to May 4 - a figure higher than the 4.6 per cent reported for the financial year to February 3.
Official figures for food inflation have been running as high as 6.6 per cent this year, but Morrisons has reported that in-store promotions have kept shop floor prices at a much lower level. And, despite a “noticeably tougher economic backdrop”, the number-four supermarket continues to benefit from improving customer numbers.
A Morrisons spokesperson said: “While the market backdrop remains challenging with ongoing pressure on commodity and energy costs and weak consumer confidence, the board is encouraged by the performance of the business to date.
“We manage all of our costs carefully so that our customers continue to get the great value that they expect from Morrisons in their shopping basket.”
The latest TNS figures said Morrisons experienced 8.7 per cent growth during the 12 weeks to May 18, compared to six per cent for Tesco.
Morrisons’ new branding, the revised ‘Street Market’ presentation across the entire estate and the associated rebranding of its vehicle fleet will be completed by the end of July.
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