// Morrisons was the only major player except Waitrose to see sales drop in the last three months
// Morrisons’ current share of the grocery market is 9.1%, behind Aldi on 9.2% and now it faces the prospect of being overtaken by Lidl
Morrisons has continued to lose ground against rival grocers as its woes under private equity ownership continue.
The Bradford-based supermarket, which was once the UK’s fourth biggest, was the only major player except Waitrose to see sales drop in the last three months.
The grocer reported a 15% drop in full-year profits to £828m for the 52 weeks ending October 30, 2022.
It suffered a 1.9% slip, with overall sales in the 12 weeks to January 22 coming in at just under £3.1bn while the rest of the traditional grocers (Tesco, Sainsbury’s and Asda) all grew sales by at least 6%, Kantar figures showed.
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Aldi, which replaced Morrisons in the Big 4 last September, extended its lead and was the UK’s fastest-growing supermarket in the period as sales soared 26.9% to over £3.1bn as shoppers flooded in looking to save their cash.
Lidl also benefited from an influx of new shoppers, with sales jumping 24.1% to £2.4bn.
Morrisons’ current share of the grocery market is 9.1%, behind Aldi on 9.2%.
It now faces the prospect of being overtaken by Lidl, which makes up 7.1% of the market.
Clayton, Dubilier & Rice (CD&R) won an auction for Morrisons with a £7bn bid back in 2021 but only officially took over last June after the CMA approved the acquisition.
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4 Comments. Leave new
Good staff.
Morrisons is too expensive eh?
Morrisons continue to attempt to hoodwink their customers with false promotions and misleading in store pricing. Many customers now only shop at Morrisons for convenience, as doing a full shop is cost prohibitive.
Very good service thanks