Morrisons posts profit rise but coronavirus brings ‘unprecedented challenges’

Morrisons has reported a rise in profits

Grocer Morrisons has reported a rise in full-year profits but cautioned that the coronavirus pandemic brings “unprecedented challenges”.

Morrisons’ pre-tax profit before exeptionals rose 3% to £408m last year, when total sales edged down 1.1% to £17.5bn. Group like-for-likes were down 0.8%.

In its current trading update, Morrisons said that the retail contribution to like-for-like performance improved to flat for the first four weeks of the new year, and was ahead 5% in the first six weeks, ”after considerable stocking up and sales pull-forward recently”.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading 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:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.