Supermarket sweep: Morrisons to unveil another sales rise

 
Helen Cahill
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General View Of Morrisons Supermarket
Potts has been updating the supermarket's product offering (Source: Getty)

Big four grocer Morrisions is set to post another sales rise this week as it pushes ahead with chief executive David Potts' recovery strategy.

Morrisons is expected to report its seventh consecutive quarter of like-for-like sales growth this week, with Shore Capital analysts forecasting growth of between 1.5 per cent and two per cent.

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The analysts forecast wholesale sales to give and additional 0.4 per cent sales growth, which would bring Morrisons' total sales growth to between 1.75 per cent to 2.25 per cent on a like-for-like basis.

"We believe that Morrison has delivered another quarter of trading and financial progress set upon the firmer foundations of the prior two years' hard work to demonstrably set the business in the best position it has been for some time, with more fixing and rebuilding to do plus ongoing growth to come," Shore Capital said.

They said it was "early doors" on Potts' "Fix, Rebuild & Grow" strategy, but that he was successfully putting forward a better product offer to his customers.

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