Analysis: Why Morrisons’ Potts is feeling Christmas cheer despite profit slump

Posed photo of Morrisons chief executive David Potts

Despite reporting a slump in profits for the first half of the year, Morrisons was bullish on its full-year profit guidance, saying it would be higher than the £431m it reported in exceptional circumstances last year. 

The grocer’s optimism comes despite facing ongoing tough sales comparables year on year and a diverse set of macro-economic headwinds, which are predominantly out of its control. 

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