Morrisons reports slowdown in Christmas sales

Morrisons Morrisons is the first of the "big four" UK supermarkets to reveal Christmas trading figures

Related Stories

Supermarket chain Morrisons has reported a slowdown in sales over the Christmas period and warned of a tough 2012 for retailers.

The Bradford-based firm said sales at stores open more than a year rose 0.7%, excluding fuel and VAT sales tax, in the six weeks to 1 January.

This compares with 2.4% growth in its financial third quarter.

It said tweaks to its marketing saw an extra 800,000 customers visit its stores each week over the period.

Investors had hoped Morrisons, the number four supermarket chain behind Sainsbury's, Asda and Tesco, would produce better figures as it does not rely on sales of non-food goods, unlike its rivals.

Philip Dorgan, an analyst at Panmure Gordon, said: "Like-for-like sales growth is slightly disappointing by Morrisons' high standards."

Morrisons' chief executive Dalton Philips said: "In 2012 the UK consumer environment will remain cautious despite an anticipated reduction in inflationary pressures."

Tesco, the UK's biggest retailer, unveils Christmas sales figures on Thursday, while Sainsbury's reports on Wednesday.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • June plays with a pelicanDad's menagerie

    An extraordinary childhood growing up in a zoo


  • US soldier, part of the NATO-led International Security Assistance Force (ISAF), manning a machine gun onboard a Chinook helicopter over the Gardez district of Paktia province on 11 August 2014Viewpoint

    Nato's role in making the Afghan army sustainable


  • Architect's drawing of bedroomDeep dreams

    The homes where you can live under the sea


  • A snailHard to stomach?

    The IT worker who quit his job to farm snails for restaurants


  • An assortment of secret menu itemsMcSecret

    The fast food items you've never heard of


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.