Morrisons impressed today when it reported like-for-like growth of 1.6% in the third quarter – quite an achievement in the hard-fought food market.
Like-for-likes have now been in positive territory for a year as changes wrought by chief executive David Potts have borne fruit.
Morrisons, like rival Tesco, is on the up again because of a renewed focus on shopkeeping basics and shoppers.
Prices have been lowered, customer service bugbears such as long queues at check-out have been addressed and the offer has been improved – a new premium range, The Best, has been successfully launched.
Today, retail is an increasingly complex business as big data and multichannel options become ever more important.
But, as Morrisons has shown, old-fashioned retail basics can still make the difference between success and failure.
Also today, the row over the fate of BHS pensioners continued as the regulator turned up the heat on Sir Philip Green, the location of the first UK Bunnings DIY store was revealed and Ikea pledged to pay its staff the ‘real living wage’.
Quote of the day
“Some shops just put deals on the crap that’s been lying around, but with us you’re going to find quality and branded goods.”
Dixons Carphone chief executive Seb James talking to Retail Week about Black Friday
Today in numbers
Number of pumpkins Morrisons sold for Halloween
Amount the pensions regulator is thought to be seeking from former BHS owner Sir Philip Green
There are no schedule updates tomorrow, but watch our video review The Retail Week in which City analyst Tony Shiret looks ahead to Marks & Spencer’s interim results.
George MacDonald, executive editor