Insight Report 3 minutes PremiumMorrisons (LON: MRW) FY16 Results: Sales Continue to Fall, but Cost Cuts Boost Bottom Line Coresight Research March 10, 2016 Executive Summary Wm Morrison (Morrisons) reported FY16 revenues of £16.12 billion, down 4.1% year over year and slightly below the consensus estimate of £16.16 billion. Comps were down 2.0% but turned positive in the fourth quarter. Gross margin fell by 70 basis points, but cost reductions and prior-year writedowns contributed to a 700-basis-point improvement in the SG&A margin. As a result, operating margin improved by 609 basis points; net profit turned positive, to £222 million, beating consensus; and diluted EPS of 9 pence met consensus. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: The New Coresight 100: Leading the Retail Charge in 2025—InfographicWeekly UK Store Openings and Closures Tracker 2025, Week 20: Asda Opens New Format; Skims Plans to Step into the UK in 2026Positive Sentiment Trend Comes to an End: Weekly US Consumer Sentiment, Week 21, 2025—InfographicWeekly US Store Openings and Closures Tracker 2025, Week 14: Urban Outfitters Announces Expansion Plan
