FinancialAdvice.co.uk Logo

Qualified advisers answering your
Financial Questions
call 0800 092 1245

Morrisons announces best Christmas in the food sector

While Morrisons has often been the butt of many jokes in the food sector with the likes of Asda, Tesco and Sainsbury racing away it would appear this trend has most certainly reversed over recent months. The company announced a like for like sales increase of 8.2% in the six weeks covering the Christmas period which was towards the top end of analysts expectations of between 7% and 8.5%.



Total sales were up 9.4% excluding fuel and the company apparently attracted a further 2.2 million new customers over the festive period. This is a remarkable turnaround for a company which many had written off just last year and with plans to expand the business in 2009 Morrisons looks as though it is well and truly back on track. Whether the company can push further ahead and compete with the likes of Asda and Tesco in the medium to longer term remains to be seen but value customers seem to be flocking to Morrisons 382 stores throughout the UK.



While the company is cautiously optimistic for the future they are not taking for granted the potential for consumers to reduce their spending habits if 2009 is as bad, or worse than, 2008. The picture for 2009 should begin to materialise over the coming months and will test the anti-recession benefits of the food sector.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:



Latest News

Blogs

Helpful new tax year facts that could affect you and your money


Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.


Read more

Useful Links

Popular Searches

Please Enter More Details

 
Enter More Details
Continue