Morrisons posts eight consecutive quarter of sales growth

 
Helen Cahill
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Morrisons has bagged another quarter of sales growth
Morrisons has bagged another quarter of sales growth (Source: Getty)

Morrisons posted its eight consecutive quarter of sales growth this morning as the group continued its turnaround under chief executive David Potts.

The figures

Over the 13 weeks to 29 October, Morrisons' like-for-like sales grew 2.5 per cent, slightly below analysts' expectations of a 2.6 per cent rise. Retail sales were up by 2.1 per cent and wholesale sales rose 0.4 per cent.

Total sales were up 2.3 per cent.

Why it's interesting

Morrisons' sales have now been growing for two years, a run of good health led by Potts, who has been reviving the firm and returned the business to profit in 2016.

However, the grocer, which is the fourth largest supermarket in the UK, has also lifted sales on the back of inflation. Food prices rose by 2.2 per cent in October, according to the British Retail Consortium, as supermarkets passed on cost price increases to consumers.

The supermarket also said today that its automated ordering system is now working in all its stores. The system is expected to help the supermarket improve its product availability over the Christmas season.

What Morrisons said

David Potts, Morrisons' chief executive, said: "We are pleased with a further step up in our competitiveness and another period of positive like-for-like sales growth. I am confident of our plans to keep serving customers better will enable us to continue the strong momentum of the year so far, into the important fourth quarter."

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