Morrisons first quarter sales up despite ‘highly volatile’ trading

Morrisons for web

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.

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