Morrisons hails fourth consecutive like-for-like rise

Morrisons hailed its fourth consecutive like-for-like sales rise as it revealed its third quarter result today, despite total sales excluding fuel falling during the quarter.

In the 13 weeks to 30 October, like-for-like sales at the Bradford-based retailer rose 1.6% excluding fuel, although its overall total sales fell 1.2%, hit by the raft of store closures and the sale of its M local stores a year ago.

Chief executive David Potts commended the positive like-for-like result.

“Our like-for-like sales have now been positive for a year, which is thanks to the hard work and dedication of the whole Morrisons team,” he said, although he added that there was “a lot more we plan to do”.

“We will keep investing in becoming more competitive and improving the shopping trip, and I am confident we will serve our customers even better during the important trading period ahead.”

The retailer added that it was becoming “more relevant” to its customers around key seasonal events and argued that its financial position was strong, it was committed to further strengthening its balance sheet and lowering debt to c.£1.2bn by the end of the financial year.

In the latest Kantar Worldpanel data, in the12 weeks to 9 October, Morrisons saw sales fall 3%, on the back of its smaller store portfolio.

Following the BWS team winning the title of Supermarket of the Year in the 2016 International Wine Challenge Awards, for the second year in a row, it  has rolled out innovation in the form of a four-pack ‘party-pack’ of 250ml beer bottle style Argentinian Malbecs with crown caps. The Asado Club Malbec, which went on shelf at the end of September, is squarely targeting the millennial audience. This week it upped its commitment to Chile with the launch of a new exclusive brand, Head Honcho, which was designed by Stranger & Stranger to provide a colourful change from the more traditional designs favoured by Chilean producers.

Morrisons launched its Asado Club Malbec in September