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:

Recommended Articles

Comments

Morrisons bemoans 'fragile' consumer confidence
Financial Planning

Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unansweredmore ..


Public sector borrowing higher than expected in June at £11.4bn

public sector net debt equalled 77.3 percent of GDP, the ONS said.more ..

Domestic demand fuels manufacturing sector, CBI study finds

Despite government efforts to boost exports, the survey found that export were flat in the quarter to Julymore ..

Tougher competition dents Royal Mail parcels revenue

CEO Moya Greene was however confident of meeting full-year expectations despite weak performance in parcels deliveriesmore ..

Budget: What business wants

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

Stay ahead of the curve

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

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
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *