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Morrisons is closely monitoring the impact of the conflict in the Middle East on consumer confidence and its supply chain, following a strong sales performance.
The Bradford-based supermarket chain reported total sales of £4.1 billion for the 13 weeks ending January 25, up 2.6% from the previous year, with like-for-like sales rising 2.8%.
The retailer attributed this growth to a significantly improved Christmas season and ongoing investment in lower prices amid fierce competition.
Chief Executive Rami Baitieh acknowledged the challenges shoppers are currently facing. “It’s tough for customers right now.
We are closely watching current international events, aware of their potential impact on consumer confidence and supply chains, and we will continue to take steps to mitigate any effects on our customers,” he stated.
Morrisons has been working to protect its customers from rising costs while competing against discount rivals like Aldi and Lidl, as well as major competitors such as Tesco, Sainsbury’s, and Asda. The company achieved £49 million in cost savings during the quarter as part of its ongoing transformation program.
Baitieh emphasised that the business remains committed to further investment in pricing, reinforcing its focus on supporting shoppers in an uncertain international environment.
Baitieh, chief executive of the business, said: “Against a highly competitive backdrop, with grocery market growth lagging previous expectations, we achieved our targets in Q1, delivering our 13th quarter of like-for-like sales growth.
“We know it’s tough for customers right now and we’re doing everything we can to offer them better value and give them more reasons to shop at Morrisons.
“That means continuing to invest in price, promotions and loyalty, concentrating on driving value where it matters most for our customers.”
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