Morrisons 6.5% lfl sales growth beats rivals

21st Jan 2010 07:03

Supermarket giant Morrisons reported a 6.5% rise in like-for-like sales over the Christmas period, beating comparable figures from rivals Tesco and Sainsbury.In the 6 weeks to 3 January, like for like sales grew by 6.5% (6.8% including fuel), while total sales excluding fuel were up by 11.2% (10.8% including fuel). The group said it served a record number of customers over the period. Morrisons said expectations for the full year remain unchanged. Looking further ahead, however, it warned that it remains cautious on the outlook for consumer spending and expects the market to remain challenging. ‘Morrisons has had another strong Christmas. Once again our distinctive offer, eye-catching promotions and relentless focus on our core strengths of fresh food and great value combined to help customers have a great Christmas,’ said chairman Sir Ian Gibson. ‘This has enabled Morrisons to finish the year strongly and although we remain cautious on the economic environment and consumer spending, we look forward to further progress in the coming year.’Rivals Tesco and Sainsbury also issued trading updates earlier this month. Tesco said last week that it enjoyed its best Christmas in three years as shoppers braved the winter weather to stock up on festive treats. In the six weeks to January 9, the firm posted a 5.1% year-on-year rise in like-for-like sales excluding petrol and VAT at its UK business, ahead of expectations. Sainsbury reported the final quarter of 2009 saw like for like sales, excluding fuel, rise by 3.7% year on year, or by 4.2% with VAT excluded. Like for like sales, including fuel, rose by 3.8% in the 13 weeks to 2 January.