Morrisons saw a “resilient” set of 2025 results, as it improved sales over the Christmas period.
The grocer’s full year underlying EBITDA was maintained at £835m for the 52 weeks ending October 2025, despite “significant and largely unexpected” external cost headwinds from the 2024 Budget, the impact of a cyber incident in Q1, and “higher than expected” inflation.
Full year group like-for-like (LFL) sales rose 2.8% for the 52 weeks ending 26 October 2025, with full year total revenues increasing 3.2% to £15.8bn.
Morrisons also noted a strong performance from its online arm, with double-digit LFL growth over the period. Additionally, Morrisons More card active users grew 11% to a record 8m.
The supermarket’s debt further reduced over the year, down 46% from its 2022 peak, while its in year cost savings came in at £233m, taking its total to date to £845m.
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Over Christmas, Morrisons saw group LFL sales climb 3.4% in the six weeks to 4 January 2026.
Sales of The Best premium range jumped 17.4% over the period, as it also pulled in “market-beating performances” from its general merchandise (+10%) and Nutmeg clothing offering (+4.7%).
Morrisons CEO Rami Baitiéh said: “2024/25 was another year of renewal and modernisation for Morrisons.
“In a year when consumers were feeling the squeeze, we grew like-for-like sales for a twelfth consecutive quarter, maintained EBITDA and our market share, and demonstrated our resilience in the face of some tough external headwinds, from the cyber incident, rising inflation and government cost increases, which we worked hard to offset.
“In Q4 we also made the changes and investments in prices, promotions and loyalty that laid the foundations for more robust momentum in the first quarter of the new financial year.”
He added: “We had a good Christmas in 2025, providing a solid foundation for the first quarter.
“As we enter 2026, the grocery market remains competitive and we are committed to our focus on delivering good value and keeping prices low for customers, announcing a further 2,500 price cuts at the start of January.”
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