Turnaround plan looks set to pay off for Morrisons March 5, 2017 The turnaround at Morrisons supermarkets headed by CEO David Potts looks set to gather speed this week as the company reports its best annual results in six years. The chain is likely to report a 54 per cent rise in pre-tax earnings to £335m on Thursday, according to predictions by banking firm Jefferies. The firm [...]
Sainsbury’s shares surged this morning on news of sales growth over Christmas – here’s how retail experts reacted January 11, 2017 Sainsbury's shares have surged by six per cent this morning after it reported a record Christmas week for trading. The supermarket said like-for-like retail sales went up 0.1 per cent in the third quarter, and while this might not be as impressive as Morrisons' 2.9 per cent growth, reported yesterday, investors were still cheered by the update. [...]
Morrisons reported strong Christmas trading numbers this morning – here are the best reactions January 10, 2017 Morrisons is having a lovely morning, with shares up four per cent on news that the supermarket's sales growth over the Christmas period was at its strongest for seven years. The group reported a 2.9 per cent jump in like-for-like sales excluding fuel, and said Morrisons.com had achieved its biggest ever week for sales in [...]
It was a very merry Christmas for Morrisons with sales up 2.9 per cent January 10, 2017 Morrisons today revealed that sales in the nine weeks to 1 January were the strongest the supermarket has seen for seven years – and it's raised its expectations for full year profits. The group's shares jumped 4.5 per cent at the open. The group reported a 2.9 per cent jump in like-for-like sales excluding fuel – with [...]
Morrisons is bringing back the Safeway brand for a wholesale range and opening ten new convenience stores November 22, 2016 Morrisons is bringing back the Safeway brand, the supermarket announced today, as well as launching a new convenience store offering. The Safeway brand is to be revived as a range for wholesale to independent retailers – Morrisons said the re-introduction of the brand will enable it to "leverage its sourcing and unique food maker skills to [...]
Morrisons’ bounce back shapes up with same-day delivery Amazon tie-up (but it’s bad news for Ocado’s share price) November 16, 2016 The dream team is very much in business. Yes, that's right: Amazon and Morrisons have developed their tie-up to launch the aptly named Morrisons at Amazon service. But it's bad news for Ocado: shares were down 9.4 per cent by the early afternoon. Ouch. From today, Amazon Prime customers in selected areas can order a full [...]
Analysts welcome a full year of growth for Morrisons November 3, 2016 Morrisons' share price was climbing this morning after the retailer said that its like-for-like sales were up 1.6 per cent in the third quarter, marking a year of positive same-store sales. Halloween sales jumped 20 per cent in the period. The company's share price was up 1.2 per cent this morning as a result, and [...]
The Aldi fightback is on: Morrisons records fourth consecutive quarter of growth November 3, 2016 After the devastating news that Morrisons was hiking the price of Marmite, it needed a good third quarter. And it has delivered the fourth consecutive quarter of growth, with sales up 1.6 per cent. Potentially a sign of, whisper it quietly, momentum building? The figures The 13 weeks to 30 October, like-for-like sales were up [...]
Next and Morrisons: What a difference a year makes September 16, 2016 What a difference a year makes. This time in 2015, shares in clothing retailer Next were up after it reported a jump in sales in its first half. Meanwhile, Morrisons warned of a “long recovery” as it made plans to sell its underperforming M Local stores amid falling sales and profits. Yesterday those fortunes reversed: [...]
Morrisons reports improved sales and increased profits and says Brexit has had no negative effect September 15, 2016 Shares in Morrisons jumped almost five per cent as the market opened, after the supermarket reported an increase in sales during the 26 weeks to 31 July, and said it hasn't seen any ill effects from the Brexit vote. The figures Revenue dipped to £8.03bn from £8.06bn this time last year, however like-for-like sales in the first [...]