// Morrisons overall like-for-like sales grows 2.3% for its first quarter
// Like-for-like contribution from retail was 0.2%, while wholesale grew by 2.1%.
// The overall like-for-like growth is slower than the 3.8% and 3.6% recorded in the previous quarter and first quarter 2018 respectively
Morrisons has recorded a slowdown in quarterly like-for-like sales growth, with the grocery giant warning that it faced a tough comparative over the next three months as Brexit uncertainty continues to reign.
For its first quarter period ending May 5, Morrisons reported like-for-like sales growth of 2.3 per cent.
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That was slightly below analysts’ average forecast for growth of 2.5 percent, and below growth of 3.8 per cent in the previous quarter.
The like-for-like contribution from retail was 0.2 per cent, while wholesale grew by 2.1 per cent.
This compares to retail and wholesale growth of 0.6 per cent and 3.2 per cent respectively in the previous quarter.
Morrisons said the political and economic uncertainty was continuing to impact consumer confidence and cautioned that comparative numbers are tough in its second quarter, due to last year’s favourable summer weather and the World Cup.
It was also announced that the supermarket’s online business will temporarily suspend its capacity at a London Ocado warehouse.
This follows the fire at Ocado’s Andover facility, which has left the online grocer looking for more capacity.
It is expected that Morrisons will be reintroduced to the facility in 2021.
“We are improving the shopping trip and becoming more competitive for customers, and are pleased with another quarter of positive like-for-like sales,” chief executive David Potts said.
“We will continue this important work, including on those favourite items we know our customers want to buy at Morrisons.”
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