Business correspondent(es/wp):
MORRISONS’ nascent recovery under new chief executive David Potts gained further momentum today after sales grew at bricks-and-mortar stores for the first time in five years.
Half-year sales at supermarkets were up by 0.3% on a like-for-like basis, the first black ink since 2011. Total like-for-like sales, excluding fuel and VAT, were up 1.4%. Morrisons has now recorded three consecutive quarters of growth after reporting 2% growth in the quarter to the end of July.
“It’s good news for all stakeholders but this is the start of the journey and we are in the foothills so I wouldn’t be calling the turn just yet,” Potts said.
Since taking over 18 months ago Potts has been trying to reverse a tide, which saw the group post 15 consecutive quarters of falling sales before a turnaround in the final quarter of last year.
Online growth has been the engine in recent quarters due to tie-ups with the likes of Ocado and Amazon, but that gap is closing thanks to a greater focus on boosting staff morale in-store.
It is spending millions on new uniforms and a laundry service for its army of butchers, bakers and fishmongers so they don’t have to wash their own overalls at home.
“This has been a team effort and a lot less to do with me and more to do with the team. It’s a beautiful company really and our staff have played an absolute blinder,” he added.
MORRISONS’ nascent recovery under new chief executive David Potts gained further momentum today after sales grew at bricks-and-mortar stores for the first time in five years.
Half-year sales at supermarkets were up by 0.3% on a like-for-like basis, the first black ink since 2011. Total like-for-like sales, excluding fuel and VAT, were up 1.4%. Morrisons has now recorded three consecutive quarters of growth after reporting 2% growth in the quarter to the end of July.
“It’s good news for all stakeholders but this is the start of the journey and we are in the foothills so I wouldn’t be calling the turn just yet,” Potts said.
Since taking over 18 months ago Potts has been trying to reverse a tide, which saw the group post 15 consecutive quarters of falling sales before a turnaround in the final quarter of last year.
Online growth has been the engine in recent quarters due to tie-ups with the likes of Ocado and Amazon, but that gap is closing thanks to a greater focus on boosting staff morale in-store.
It is spending millions on new uniforms and a laundry service for its army of butchers, bakers and fishmongers so they don’t have to wash their own overalls at home.
“This has been a team effort and a lot less to do with me and more to do with the team. It’s a beautiful company really and our staff have played an absolute blinder,” he added.
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