Overview
- Morrisons, which reported its first‑quarter update Wednesday, said total sales rose 2.6% to £4.1 billion for the 13 weeks to January 25.
- Group like‑for‑like sales grew 2.8% year on year, marking a 13th straight quarter of growth after a much‑improved Christmas period.
- The retailer said lower prices, targeted promotions and loyalty offers drew more shoppers, and it plans to keep investing in price as customers feel the squeeze.
- The company delivered £49 million of cost savings in the quarter as part of its overhaul, taking total savings since the program began to £894 million.
- Chief executive Rami Baitiéh said the team is watching the Middle East conflict for possible hits to shopper confidence and supply lines as UK competition from Aldi, Lidl and price drives at larger rivals stays intense.