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Morrison W.Sprmkts (MRW)

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Thursday 06 May, 2010

Morrison W.Sprmkts

Interim Management Statement

RNS Number : 4213L
Morrison(Wm.)Supermarkets PLC
06 May 2010
 



Continuing to win customers

 

Wm Morrison Supermarkets PLC

Q1 Interim Management Statement

 

The Group has continued to grow share in the first quarter, although the new financial year has seen the anticipated slowdown in the market.

 

In a challenging environment for the consumer we have continued to invest for the benefit of our customers. Our keen pricing, supported by eye-catching and innovative promotional offers, has again proved successful as consumers have continued to search for value. We welcomed record numbers of customers into our stores, confirming the continuing appeal of Morrisons as the Food Specialist for Everyone.

 

As expected, commodity prices have continued to ease, resulting in the virtual elimination of food inflation and lower market growth. We are satisfied with our sales performance, which has continued to outpace the market despite facing tough prior year comparative numbers.

 

In the 13 weeks to 2 May total sales* excluding fuel were up by 5.9% (9.5% including fuel). Like for like sales* grew by 0.8% (5.2% including fuel), building further on the strong like for like growth reported in the previous three years.

 

The Group's net debt position remains in line with expectations.

 

During the quarter the Board welcomed Dalton Philips as CEO. He is currently familiarising himself with the Group's operations.

 

Outlook                                                                                         

 

Although we remain cautious on the economic environment and consumer spending, our expectations for the current year remain unchanged.

 

*exc. VAT and reported in accordance with IFRIC 13

 

 

Enquiries:

 

Wm Morrison Supermarkets plc

                                               

Richard Pennycook - Finance Director                                       0845 611 5000

Niall Addison - Investor Relations Director                                07764 624701

 

Media Relations

 

Wm Morrison Supermarkets plc            Gillian Hall                    0845 611 5359

Citigate Dewe Rogerson:                       Simon Rigby                  020 7638 9571

   Kevin Smith

 

 

There will be an analyst conference call at 9 a.m. today.

 

Participant dial-in number: +44 (0)20 7136 2052

 

PIN: 8604878             

 

Replay facility available for 7 days: +44 (0)20 7111 1244

 

Replay access number: 8604878#


This information is provided by RNS
The company news service from the London Stock Exchange
 
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