Shares were up 4.5 per cent in early trading
Morrisons today announced that it enjoyed strong Christmas and New Year trading as like-for-like retail sales rose 2.1 per cent in the ten weeks to 7 January. The retailer said it kept a lid on prices for shoppers despite higher commodity costs.
The Bradford-based retailer also announced that its previously announced tie-up with convenience store chain McColl’s will kick off this month. Shares were up 4.5 per cent in early trading.
“Despite input cost pressures on many commodities, the price of a basket of key Christmas items was the same as last year,” the company said.
Chief executive David Potts said: “More and more customers found more things they wanted to buy at competitive prices at Morrisons this Christmas.”
The figures come after monthly data from the British Retail Consortiumshowed a stark disparity between the performance of supermarkets and non-food retailers, as squeezed shoppers prioritised essentials such as food leaving less left over for Christmas gifts.