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Company Earnings Update

Morrisons (LSE: MRW) 1Q20 Trading Update: Group Comps Below Expectations, Access to Ocado Erith Fulfilment Center Suspended

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Coresight Research

Key Points

  • Morrisons reported group same-store sales growth of 2.3% excluding fuel, below the consensus estimate of 2.5% recorded by StreetAccount.
  • The company agreed with its online grocery service provider Ocado that Morrisons’ access to the new Erith customer fulfilment centre (CFC) will be suspended until January 2021.
  • Ocado will no longer be Morrisons’ exclusive digital partner.

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