19th Nov 2009 07:00
Record number of customers
attracted to Morrisons
Wm Morrison Supermarkets PLC
Q3 Interim Management Statement
Trading
The Group's performance in the third quarter has been good, continuing the progress reported in the first half. Sales continued to grow well ahead of the market, reflecting good like for like growth and the contribution from the 37 stores opened so far this year.
In the 13 weeks to 1 November total sales* excluding fuel were up by 9.1% (5.1% including fuel). Like for like sales* grew by 4.3% (1.3% including fuel).
At our interim results announcement in September we said that commodity prices would continue to ease through the quarter, resulting in lower retail price inflation and market growth. This has proved to be the case and our underlying sales performance in the period has been consistent with the good growth we experienced in the second quarter.
In this environment we continue to deliver great value and quality to our customers whilst focusing on managing our cost base and generating profitable growth.
Morrisons welcomed a record 10.8 million customers on average through its doors each week during this period, up by over 1.6 million since we launched our Food Specialist for Everyone strategy two years ago. Our like for like sales of 13% over this period reflect the attractiveness of our unique fresh, quality and value offer.
Optimisation Plan
Our new regional distribution centre at Sittingbourne opened ahead of schedule in the quarter to support the additional volumes going through the business as a result of our store opening programme, and we are very pleased with its early performance. The remaining initiatives within the Optimisation Plan, which concludes in January 2010, are on track.
Outlook
Performance in the third quarter has been good and we have confidence in the strength of our unique proposition. Our expectations for the current year remain unchanged.
Commentating on Morrisons 3rd quarter trading, CEO Marc Bolland said;
"Morrisons continues to grow ahead of the market driven by our award winning combination of outstanding quality, fresh food and great value. I am pleased that more and more customers are attracted to Morrisons, as we continue our journey from national to nationwide."
*exc VAT
Sales including VAT
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Exc. fuel |
Inc. fuel |
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Total |
8.4% |
3.7% |
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Like for like |
3.6% |
0.0% |
Enquiries:
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Wm Morrison Supermarkets |
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Marc Bolland - Chief Executive |
0845 611 5000 |
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Richard Pennycook - Finance Director |
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Investor Relations |
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Niall Addison - Investor Relations Director |
07764 624701 |
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Media Relations |
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Wm Morrison Supermarkets: |
Gillian Hall |
0845 611 5359 |
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Citigate Dewe Rogerson: |
Simon Rigby |
020 7638 9571 |
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Sarah Gestetner Kevin Smith |
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There will be an analyst conference call at 9 a.m. today. |
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Participants dial in line: |
0800 028 1243 (UK) |
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+44 (0) 20 7806 1951 (international) |
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Pin number: |
3694607# |
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Replay facility: |
0800 358 7735 (UK) |
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Replay Access Number: |
3694607# |
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