Markets

Morrison - Wholesale drives a good Christmas

Morrison - Wholesale drives a good Christmas

The UK's fourth largest supermarket, Morrisons, continued to ring up growing sales over the key Christmas period.

Top100 retailer Majestic Wine said that it was on track to achieve its sales of £500m by 2019 after a Christmas in which group sales grew by 3.2% in the 10 weeks to January 1, or 4.1% on an underlying basis.

Morrisons shares lifted 4% after its better-than-expected trading update, sparking gains for rivals Sainsbury's and Tesco, up 3% and 1% respectively.

Figures published on Tuesday from market researcher Kantar Worldpanel show that British shoppers spent £1bn more in supermarkets over the last 12 weeks of last year, compared to the year before.

The partnership will see the supermarket supply Safeway and branded products to 1,300 convenience shops and 350 newsagents.

But growth at Aldi [ALDEI.UL] and Lidl continued to outpace the four, with both discounters seeing sales rise by 16.8 percent.

David Potts took over at Morrisons in 2015
Image David Potts took over at Morrisons in 2015

Morrisons, which trails market leader Tesco, Sainsbury's and Asda, is trying to develop a broader business by turning around the performance of its more than 500 United Kingdom stores while also pursuing growth in online and wholesale markets.

Indeed, private-label sales at the supermarkets grew at almost three times the rate of the overall grocery market (6 per cent) as "most retailers made a big play on the quality and value of premium private-label this Christmas, which is crucial as shoppers look to economise not compromise".

Asda, owned by Walmart, increased sales by 2.2 percent in the period to December 31, while 2.1 percent more came through the tills at Morrisons and Sainsbury's was up 2.0 percent, the research group said. Morrisons [IRDX RMOR] said that more customers could now use its online service as orders are picked from stores in more areas, including the north east of England.

"We again worked hard to improve the shopping trip and serve customers better, ' the retailer said in a statement".

He added it was "a good start" for United Kingdom retailers announcing trading updates this week, which include Sainsbury's, Tesco and Marks and Spencer.

The average household shrugged off economic worries to spend a record GBP1,054 on groceries over the three months including the Christmas period and a record GBP469 million on premium own-label lines in December alone, with chilled items, fresh meat and bakery featuring prominently.





  • Xiaomi, Oculus announce new Mi VR headset at CES 2018

    Xiaomi, Oculus announce new Mi VR headset at CES 2018

    Hugo Bara, CEO of Oculus, didn't have anything more to say about the release date, but he said we could expect more details soon. The Oculus Go, which is a stripped-down version of the company's high-end Oculus Rift , was announced back in October 2017.
    Why Twitter will never deactivate Donald Trump's account

    Why Twitter will never deactivate Donald Trump's account

    It is debatable whether Trump did in fact violate user policy on Twitter , but it has raised some important questions. A nonprofit group called Color of Change has announced a new effort to get Trump banned from Twitter .
    Passenger 'smearing feces' causes United Airlines flight to redirect

    Passenger 'smearing feces' causes United Airlines flight to redirect

    The passenger, a 22-year-old whose name was not released, was co-operative and faced "no appropriate charges for anything criminal", Gamache added.
  • HTC Vive Pro revealed at CES 2018, higher resolution and integrated headphones

    HTC Vive Pro revealed at CES 2018, higher resolution and integrated headphones

    But the pricey system required an equally pricey PC, and the cable attachments between the two made for a clunky experience. Thanks to that bump, HTC says "text, graphics, and [the] overall experience all come into sharper view".
    Economy set for slowdown as govt pegs growth for FY18 at 6.5%

    Economy set for slowdown as govt pegs growth for FY18 at 6.5%

    The growth rate of the agriculture, fishing and forestry sector is expected to decline from 4.9% in 2016-'17 to 2.1% in 2017-'18. The first advance estimates show nominal GDP at Rs 166.3 lakh crore, a 9.5% increase over a year ago .
    Astronaut John Young dies at 87

    Astronaut John Young dies at 87

    Young died on Friday night following complications from pneumonia, Xinhua quoted the USA space agency as saying. The astronaut John Young , who walked on the moon and commanded the first space shuttle flight, has died.
  • Google Doodle honours Nobel Prize victor  Har Gobind Khorana

    Google Doodle honours Nobel Prize victor Har Gobind Khorana

    Khorana won the "Nobel Prize in Physiology or Medicine" in 1968 along with colleagues Marshall W. One sequence of three nucleotides in DNA corresponds to a certain amino acid within a protein.
    Cherokee Nation to finally recognize MLK Day

    Cherokee Nation to finally recognize MLK Day

    Doors open at 8:30 a.m.at Ordway Center for the Performing Arts, 345 Washington St., Saint Paul, Minnesota. This free, ticketed event will feature keynote speaker Amanda Seales.
    Smart speaker sales expected to soar in 2018

    Smart speaker sales expected to soar in 2018

    Amazon and Google are now vying to produce the best smart speakers and assistants in the hopg of dominating the booming market. Home Max was launched in mid-December at $399 -- so it's clear that it makes up a small portion f those million of sales.
  • Saudi detains 11 princes over protest in royal palace

    Saudi detains 11 princes over protest in royal palace

    The country plans to slash its generous welfare program and open energy giant Saudi Aramco to partial privatization. The government information service, the Centre for International Communication, said it was checking the report.
    Nissan is working on auto  technology that could read the drivers mind

    Nissan is working on auto technology that could read the drivers mind

    This data is then analysed by an autonomous system that uses the information to anticipate the driver's evasive manoeuvres. At this stage, scientists are using special sensors to analyze the processes occurring in the human brain while driving.
    HP launches Chromebook 11 G6 and 14 G5 ahead of CES 2018

    HP launches Chromebook 11 G6 and 14 G5 ahead of CES 2018

    As reported by CNET , the HP Chromebook 14 G5 is aimed for corporate sector while the Chromebook 11 G6 is targeted at students. The high-dynamic range (HDR) camera produces clear and brighter photos as well as video for Google Hangouts and webchats.