Morrisons reports "record performance"

10-01-2007

Morrisons reports
Supermarket chain Morrisons has announced that it enjoyed record sales in the week immediately prior to Christmas.

The Christmas trading update from the company attributes a well controlled carry-over of stock to the festive result, as the "waste and markdowns in the week following Christmas were 20 per cent better than in the previous year", the firm claims.

Like for like sales including fuel in the six week run-up to Christmas and the new year were up by six per cent from 12 months ago.

A statement from Morrisons said: "Whilst trading in the run-up to Christmas was muted, the week immediately prior to Christmas saw a record performance."

The results end a positive year for the supermarket chain with continued sales growth; results which the company says are "slightly ahead" of expectations.

Morrisons is the fourth largest supermarket chain in the UK with about nine million customers a week and a workforce of 130,000 people.

The chain has 368 superstores across Britain and has expanded further since its takeover of the Safeway chain of stores in 2004.


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