British supermarket group Morrisons has reported a 3.4% increase in like-for-like sales over the critical six-week trading period leading up to January 4. This represents an improvement compared to the 2.4% rise recorded in the previous quarter, signalling a positive end to the year for the company. Morrisons is the UK’s fifth largest grocer, providing a wide range of food and household products to consumers across the United Kingdom. Since 2021, it has been under the ownership of U.S. private equity firm Clayton, Dubilier & Rice.
For the full year ending October 26, Morrisons announced that its revenue increased by 3.2%, reaching £15.8 billion. The company also reported that its core earnings were maintained at £835 million for the same period. This financial performance reflects Morrisons’ ability to navigate a challenging market environment and maintain its profitability.
The reported sales growth and stable earnings figures suggest that Morrisons is holding its own in the competitive UK grocery market. The company continues to focus on delivering value and quality to its customers, while also managing its operations effectively. Further details about specific growth drivers were not disclosed in the initial report.
These figures provide a snapshot of Morrisons’ financial health as it continues to operate under private equity ownership. While broader economic conditions and consumer spending habits remain key factors, the company’s recent performance indicates a resilient business model.
