Morrisons (LSE: MRW) Holiday Trading Update: Wholesale Drives Growth; Retail Sales Impacted by Uncertainty
- UK grocery retailer Morrisons reported comparable sales growth (excluding fuel) of 3.6% in the nine weeks ended January 6, below the consensus estimate and slowing sequentially.
- Management pointed to consumer uncertainty as a factor inhibiting growth in the period.
- Wholesale revenues drove growth, contributing 3.0% to total comps, while retail comps, excluding fuel, contributed just 0.6%.
- The company maintained the guidance given in its first-half results.
Holiday Trading Update Morrisons, the UK’s fourth-largest grocery retailer, reported a trading update for the nine weeks ended January 6. Morrisons highlighted
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