Sales slow at Morrisons
Supermarket chain Morrisons saw shop sales slow sharply in the past three months. Takings in branches rose 1.3%, but this is down from 2.5% in the previous quarter which bosses stressed was boosted by the bumper summer and the World Cup. Morrisons’ wholesale arm – which sells its products through Amazon and corner shops – saw business rise by 4.3%. But those sales are less profitable than those in-store.
Morrisons’ boss David Potts insisted it was “well set up” for the key Christmas period.
The company’s share price fell nearly 4% yesterday, but is up over
12% in the year to date.