Morrisons Reports Strongest Sales Growth in Over a Year

The supermarket group Morrisons reported its strongest sales growth in over a year, with total sales reaching £4.1 billion for the 13-week quarter ending July 26. Like-for-like sales grew by 3.2% compared to the previous year, a result the company attributes to a turnaround strategy centered on investment and lower pricing.

Growth was broad-based across the business, including supermarkets, online, convenience, pharmacy, and Myton manufacturing. Online sales saw a double-digit increase, while hot weather and the World Cup provided additional boosts to performance. The company also expanded its convenience footprint by opening 71 new Morrisons Daily franchise stores this year, with plans to open hundreds more.

Financially, the private equity-owned firm secured £53 million in cost savings during the latest quarter. This brings the total savings to nearly £1 billion since the start of its overhaul. Chief Executive Rami Baitieh stated that the combination of volume growth and lower prices provides evidence that the company's strategy is delivering and that it remains on track with its modernization plans.