“Wonky veg” may have proved a winner with holiday shoppers, but Wm Morrison found yesterday that a fourth consecutive Christmas of sales growth was not enough to tempt investors to tuck into the smallest of Britain’s “Big Four” supermarkets.
Instead, they took note of a slightly disappointing offering by its wholesale business — disappointing in the City, if not within the company, which adopted a rather more positive view — and sent the shares down by 3.2%.
Morrisons left its full-year forecasts unchanged as it said that comparable sales across its core supermarket business had risen by 0.6% in the nine weeks to January 6. This was just ahead of analysts’ consensus forecasts of a 0.5% rise and came after 3.6% growth last year.
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