10th Jan 2007 07:01
Morrison(Wm.)Supermarkets PLC10 January 2007 Sales Update This update covers the 6 and 49 weeks to 7 January 2007. Like for like sales during the 6 week Christmas and New Year period increasedby 6.3% excluding fuel and by 6.0% including fuel. Whilst trading in the run-upto Christmas was muted, the week immediately prior to Christmas saw a recordperformance. Importantly, the carry-over of stock into the post Christmas periodwas well controlled, with the result that waste and markdowns in the weekfollowing Christmas were 20% better than in the previous year. The Group has delivered satisfactory sales growth during the second half of itsfinancial year, continuing the momentum previously reported at the interimresults in September. In the 49 weeks to 7 January 2007 like for like sales wereup by 5.4% excluding fuel and by 6.3% including fuel. Figures for total sales, with and without fuel, for the 6 and 49 weeks, areattached to this update as an Appendix. These sales results are slightly ahead of our expectations at the time of ourinterim results. However, the Group is in the early stages of its profitrecovery and the trading environment remains highly competitive. The Group will report its preliminary results, for the 53 weeks to 4 February2007, on 15 March 2007. At that time, it proposes to bring the format of itsincome statement in line with most other companies in the sector. In order toaid comparability, an audited, reformatted income statement for the year to 29January 2006 will be published on 31 January 2007. For further information: Media Gillian Hall 0845 611 5359 Citigate Dewe Rogerson: Jonathan Clare/Simon Rigby/Sarah Gestetner 020 7638 9571 Investor Relations Niall Addison 07764 624701 Conference Call for Investors and Analysts: Marc Bolland will host this call at 9.00 a.m. on Wednesday 10th January 2007. The call can be accessed on: +44 (0) 20 7138 0814 UK/Europe +1 718 354 1359 US A replay service will be available until midnight on Friday 12th January and canbe accessed on: +44 (0)20 7365 1827 UK/Europe +1 718 354 1112 US Replay Passcode: 8145858# Appendix 1 Sales Update - 10 January 2007 6 weeks to 49 weeks to Jan 7th 2007 Jan 7th 2007 Like for like sales* - excluding fuel 6.3% 5.4%Like for like sales* - total 6.0% 6.3%Total sales **- excluding fuel 5.2% 0.4%Total sales ** 5.2% 2.0% * Like for like sales compares the performance of 357 stores in the Morrisons estate in the periods under review, with their sales performance in the equivalent periods last year. ** Total sales compares the total performance of all 367 stores in the Morrisons estate in the periods under review, with the total sales of all stores in the estate during the equivalent periods last year. Sales in the 6 weeks to 7 January 2007 include 1 extra trading day when comparedwith the equivalent period in the previous year. In line with the Group's normalpractice, like for like numbers have not been adjusted. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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