Morrisons sales up as customer numbers grow

Supermarket giant Morrisons has announced that a record number of customers visited its stores in the three months to November.

The UK’s fourth-largest supermarket said 10.8 million customers visited its stores during the period and the group said its sales “continued to grow well ahead of the market”.

The group announced that like-for-like sales, excluding fuel and VAT, were up 4.3% in the 13 weeks to 1 November 1, “well ahead” of its competitors, said Morrisons.

The results come just a day after the supermarket revealed that chief executive, Marc Bolland, is leaving the company at the end of January to take Sir Stuart Rose’s place as chief executive of retailing giant, Marks & Spencer.

The company said it has started its search internally and externally for a replacement for Mr Bolland.

Commenting on the group’s performance, Mr Bolland said: “Morrisons continues to grow ahead of the market driven by our award winning combination of outstanding quality, fresh food and great value. I am pleased that more and more customers are attracted to Morrisons, as we continue our journey from national to nationwide.”

Morrisons has been gaining market share over the last two years, boosted by its low prices, promotions and the popular demand for its “Market Street” fresh food counters.

Furthermore, the supermarket, which has opened almost 40 stores this year, has gained more customers due, in part, to its series of advertisements starring celebrities including Lulu, Denise van Outen and Richard Hammond.

Discuss this in the Finance Markets forums

Story link: Morrisons sales up as customer numbers grow