19/07/2007
Morrisons is pleased to provide a sales update in advance of its interim results, which will be announced on 20th September 2007.
Like for like sales in the 23 weeks to 15th July 2007 increased by 3.0%, (2.6% including fuel) with converted stores, including those that are now in their third year of conversion, continuing to perform well.
Sales growth has slowed slightly since we last reported at our AGM in May, reflecting tougher comparisons against last year when the market benefited from the impact of favourable weather and the World Cup.
Commenting on trading, Sir Ken Morrison, Chairman, said "The Board is satisfied with the overall performance of the business to-date. Sales volumes are lower than we would like, but the company's new marketing and store programme will commence later this month. Good progress is being made towards meeting our ambitious margin & cost targets and we are confident that we are well on track to deliver our expected outcome for the year."
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16-MAY-08 15:35 GMT (London Stock Exchange)
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