Morrison W.Sprmkts

Q1 Trading Statement

RNS Number : 4382Y
Morrison(Wm.)Supermarkets PLC
09 May 2019
 

News Release

 

Release date: 9 May 2019

 

Wm Morrison Supermarkets Plc

Q1 Trading Statement - 13 weeks to 5 May 2019

 

For the 13 weeks to 5 May, Group like-for-like* (LFL) sales excluding fuel were up 2.3%, comprising contributions from retail of 0.2% and wholesale of 2.1%. Group LFL including fuel was up 2.7%. Total sales* were up 2.4% excluding fuel (2.9% including fuel).

 

Our retail sales performance was again robust. We achieved a positive LFL in Q1 for the fourth consecutive year, despite political and economic uncertainty continuing to impact consumer confidence. Sales during the important Easter period were again strong, with LFL up 1.7% on last year and 3.4% on a two-year basis.

 

Our wholesale business continued to make good progress. The first McColl's conversions to Morrisons Daily, and MPK conversions to both Morrisons Daily and Safeway Daily have started well, with strong sales increases.

 

David Potts, Chief Executive, said:

 

"We are improving the shopping trip and becoming more competitive for customers, and are pleased with another quarter of positive like-for-like sales.

 

"We will continue this important work, including on those favourite items we know our customers want to buy at Morrisons."

 

Outlook

 

We expect the market to remain competitive and challenging, and in Q2 we will annualise last year's favourable summer weather and the World Cup. However, we remain confident that Morrisons still has many sales and profit growth opportunities ahead, and continue to expect that growth to be both meaningful and sustainable.

 

* Reported ex-VAT and in accordance with IFRS 15

 

 

 

LFL sales performance (ex-VAT)

 

2018/19

2019/20

 

Q1

Q2

Q3

Q4

Q1

Retail contribution to LFL1

1.8%

2.5%

1.3%

0.6%

0.2%

Wholesale contribution to LFL2

1.8%

3.8%

4.3%

3.2%

2.1%

Group LFL ex-fuel

3.6%

6.3%

5.6%

3.8%

2.3%

Group LFL inc-fuel

1.9%

6.4%

6.0%

3.0%

2.7%

Reported in accordance with IFRS 15

1 Includes supermarkets and Morrisons.com sales. Morrisons.com sales through CFCs contributed 0.4% in Q1 2019/20

2 Wholesale comprises sales to third parties, including those via our manufacturing business

 

 

Notes:

 

This announcement includes inside information.

 

- ENDS -

 

Enquiries:

 

Wm Morrison Supermarkets plc

 

Trevor Strain - Group Chief Finance and Commercial Officer

0845 611 5000

Andrew Kasoulis - Investor Relations Director

0778 534 3515

 

 

 

Media Relations

 

Wm Morrison Supermarkets plc:

Julian Bailey

0796 906 1092

Citigate Dewe Rogerson:

Simon Rigby

0207 282 2847

 

Kevin Smith

0207 282 1054

 

 

 

There will be an analyst conference call at 9.00 a.m. today, the details of which are as follows:

 

Dial-in number:                                   +44 (0)33 3300 0804

Access Pin:                                         21617326#

Password:                                           Morrisons

 

Replay facility available for 7 days:

 

Replay dial-in number:                        +44 (0)33 3300 0819

Access Pin:                                         301285000#


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
TSTUGUMPAUPBGMR