Morrisons has reported sales growth in the first quarter despite “highly volatile” trading patterns and a worse-than-expected Easter due to the ongoing coronavirus lockdown.
For the 14-week period to May 10, the supermarket said like-for-like sales excluding fuel were up 5.7% – with retail sales up 5.1% and wholesale 0.6%.
The retailer said that retail like-for-like sales were up 5% for the first six weeks of the year, with weeks five to seven marked by “considerable stocking up” by customers, which pulled sales forward.
However, Morrisons said this had been offset somewhat by Easter being affected by the lockdown, with sales “significantly down year on year” meaning a negative retail sales contribution like for like in weeks eight to 11 of the period.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.