Morrisons sales growth slows

19th Nov 2009 07:02

Supermarket chain Morrisons reported a 4.3% rise in third quarter like-for-like sales and left its expectations for the current year unchanged.Market expectations were for underlying sales growth, excluding fuel and VAT, to have risen by 4.5% in the period, compared to a 7.8% year on year rise in the first half of the financial year. Total sales in the 13 weeks to 1 November excluding fuel were up by 9.1% (5.1% including fuel). UBS expected total sales growth to exceed 8%.'Morrisons continues to grow ahead of the market driven by our award winning combination of outstanding quality, fresh food and great value,' said chief executive Marc Bolland.'I am pleased that more and more customers are attracted to Morrisons, as we continue our journey from national to nationwide,' he added.Today's statement comes one day after the news that Bolland is to jump ship to take up a similar role at Marks & Spencer. This morning, Morrisons' finance director Richard Pennycook said he would 'think about' applying to replace Bolland.