Wm Morrison Supermarkets Plc (MRW.L) reported Thursday, a 9.1% increase in total sales for the third quarter. The company reiterated its profit expectations for the full year.
For the 13 weeks to 1 November, total sales, excluding fuel, climbed 9.1%, reflecting the contribution from the 37 stores opened till date this year. Like-for-like sales improved 4.3% from the past year. Including fuel, total sales grew 5.1%, and like-for-slike sales increased 1.3% from the year-ago quarter.
Wm Morrison said that, as predicted earlier, retail price inflation declined and market growth mitigated, as commodity prices continued to come down in the quarter.
As per the Interim Management Statement, the weekly customer visits for the period rose 1.6 million to 10.8 million since the launch of Food Specialist for Everyone strategy two years ago. Marc Bolland, chief executive of Wm Morrison, said, "I am pleased that more and more customers are attracted to Morrisons, as we continue our journey from national to nationwide."
The firm also noted that it was happy with the performance of the new regional distribution centre at Sittingbourne, which was opened before schedule in the quarter to support higher volumes.
Lookng ahead to the full year, the group reiterated its profit expectations.
Wednesday, Wm Morrison announced that Bolland resigned from his post and that he would continue to serve till the end of the financial year.
MRW.L is currently trading at 281.10 pence, up 0.20 pence or 0.07%, on the LSE.
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