Morrisons posts strong sales growth

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For the crucial six-week Christmas and New Year period, same-store retail sales picked up pace, rising by 2.8 per cent, Morrisons said.

The UK benchmark index has climbed higher in today's session, finding support in blue-chip retailers as Wm Morrison Supermarkets (LON:MRW) posted better-than-expected Christmas sales.

Also attributing to the company's success was the introduction of automated ordering across all of its United Kingdom stores, helping improve availability and stock levels throughout the holidays.

Laith Khalaf, a senior analyst at Hargreaves Lansdown, said: "Morrison maintained its sales momentum towards the end of previous year, and witnessed some particularly brisk trading around the Christmas period, though this isn't enough to move the dial on the company's profit forecasts".

In a statement, Morrisons said: "We also continued to become more competitive and, despite input cost pressures on many commodities, the price of a basket of key Christmas items was the same as past year".

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There was some good news from the High Street this morning as Northern based supermarket chain Morrisons provided a buoyant which saw its like for like sales for the ten weeks to the 7th January excluding fuel up 2.8%.

"More and more customers found more things they wanted to buy at competitive prices at Morrisons this Christmas", chief executive David Potts who has led Morrisons turnaround by investing in price cuts.

Morrisons saw like for like sales rise by 3.7 per cent over the Christmas trading period boosted by automated ordering and strong demand for premium tiers.

After some successful trials, the previously announced agreement to start supplying all 1,650 McColl's stores with both Safeway products and national brands will begin this month. "The importance of online and Morrisons emerging wholesale arrangements are clearly strong contributors to this performance".

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