Morrisons

Ticker MRW

Today's data summary

Market open
% change
-0.76%
Price Pence
209.50
Change
-1.60
As of 15:47 22 May 2019
Market cap. Pound sterling
5,011.88 million
As of 15:47 22 May 2019

Latest updates

Morrisons 'robust'

shop
Reuters

Supermarket group Morrisons says its retail sales performance was "again robust".

It says like-for-like sales, which strip out new store openings, were positive in the first quarter for the fourth consecutive year "despite political and economic uncertainty continuing to impact consumer confidence".

Sales during Easter period were up 1.7% on last year and 3.4% on a two-year basis.

For the 13 weeks to 5 May, group like-for-like sales excluding fuel were up 2.3% and including fuel were up 2.7%.

It says it expects "the market to remain competitive and challenging" and in the second quarter will annualise last year's favourable summer weather and the World Cup.

Plans to build a retail unit in a supermarket car park rejected

Local Democracy Reporting Service

Nic Marko

Plans to create a retail unit in a supermarket car park on Clarence Road in Hartlepool have been rejected.

Last year the proposals from Morrisons to create a Timpson's store in its car park were rejected by the council because they said it "would have a detrimental impact on the general character of the area".

Morrisons in Hartlepool
BBC

An appeal was lodged against the council decision to refuse the plans by Morrisons, but the national Planning Inspectorate moved to dismiss the appeal.

John Dowsett from the Planning Inspectorate ruled the planning committee was right to refuse the proposals, adding: "The appellant recognises that the proposed building would be visible from all directions when entering the car park and approaching the store’s entrance.

“As a consequence, the proposed development, despite its modest scale, would be harmful to the character and appearance of the area."

Asda now UK's second largest grocer

Asda shopping basket
Reuters

UK supermarkets saw their sales grow over the 12 week period to 24 March, except for Sainsbury's and Morrisons which both had slight sales drops, according to Kantar, publishing its latest sector report.

Aldi sales grew 10.6% with London its fastest growing region. More people are now visiting Aldi than Morrisons.

While Asda's sales grew only 0.1%, it has crept up to become Britain's second largest retailer.

Here's how market share now looks for the grocers:

  • Tesco 27.4%
  • Asda 15.4%
  • Sainsbury's 15.3%
  • Morrisons 10.3%
  • Aldi 8%
  • Co-op 6.1%
  • Lidl 5.6%
  • Waitrose 5%

Morrisons: Credit where it's due

Morrisons
Getty Images

Morrisons' shares are currently down 1% after today's results, but Hargreaves Lansdown analyst Sophie Lund-Yates believes its full-year results are "good".

"The in-store like-for-like sales growth may not be impressive, but it’s something not all its competitors are managing."

She says the real jewel in Morrison’s crown is its wholesale supply deals with the likes of Amazon and McColl’s - which drove £700m in sales this year.

"That added dough is needed to feed the bottom line, in what has become an increasingly competitive industry.

"Morrison’s lower price point means the rise of Aldi and Lidl is a threat, so it’s important Morrison does what it can to widen its offering," she adds.

'Cupboard fillers'

Morrisons
PA

As we reported earlier, sales of loo rolls and painkillers have risen at Morrisons ahead of Brexit.

Chief executive David Potts said there had been "a recent spike" in sales with "a very small amount of customers buying in".

He said the supermarket is doing its best to prepare for a no-deal Brexit, ensuring it has enough "cupboard fillers" for shoppers.

Stockpiling toilet roll

Retail editor for the Daily Telegraph and Sunday Telegraph tweets