We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

Morrisons bemoans 'fragile' consumer confidence


Supermarket’s commercial director Richard Hodgson moved

Article comments

Supermarket chain Morrisons has posted a quarterly dip in sales attributing it to “fragile” UK consumer confidence levels.

In a performance data release on Thursday, Morrisons said like-for-like sales fell 2.1 percent in the three months to 28 October in a trading environment which continued to remain "challenging."

Overall, total sales excluding fuel fell by 0.4 percent in the quarter. However, if fuel sales via its petrol forecourts are included, the figure rose by 0.2 percent.

Morrisons, which is the UK's fourth largest supermarket chain, said the sales figures "were lower than anticipated." Nonetheless, it maintained that full-year results would be broadly in line with previous expectations.

Morrisons also announced that its commercial director Richard Hodgson had moved away from daily management of operations. On an interim basis, Hodgson would be replaced by the company’s current corporate services director Martyn Jones.

Share:

Comments

Morrisons bemoans 'fragile' consumer confidence
Financial Planning

Budget: What business wants

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..


Sports Direct posts 10.3% rise in quarterly sales

However, row over pay and investments overshadow sterling performancemore ..

Government awards subsidised renewable energy project contracts

Total project valuation for offshore wind and biomass projects stated at £12bnmore ..

Primark owner ABF appoints second woman to its board

The group posted a 1% rise in operating profits thanks mostly to Primark's successmore ..

Stay ahead of the curve

CFOs used to low interest rates ignore working capital optimisation at their perilmore ..

Digital streamlining of travel and expense claims [Part II]

Concur shows CFOs how to make life easier when the auditors come knockingmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Do you have what it takes to become a non-executive?

Do you have what it takes to become a non-executive?

The benefits of board service for CFOs more ..

In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

Advertisement

* *