Morrisons on track, inflation rises

4th Nov 2010 07:19

Supermarket Morrisons saw a 'solid performance' in the 13 weeks to October 31, while reporting a slight increase in retail price inflation.In a brief statement, the company said total sales excluding fuel were up by 2.8%, with like-for-like sales up by 1.3%.The company, which in September said it was moving into the convenience store market, said it opened seven new stores during the period and is on track to meet its target of adding 400,000 square feet of new space during the year.'In a continuing difficult environment for the consumer, performance in the third quarter has been in line with our expectations,' the company said. 'Accordingly our financial outlook for the year remains unchanged.'