Wm Morrison sees strong momentum after sales rise in third quarter
Wm Morrison said it had strong momentum for the Christmas trading period after sales rose in the third quarter.
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Morrison (Wm) Supermarkets
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Sales at stores open a year or more, excluding fuel, rose 2.5% in the 13 weeks to 29 October, the supermarket said in a trading update.
Transactions rose 2.1% as customers bought more from Morrisons. The company said a new automated ordering system was operating in all stores and that it would make more products available and save employees time over Christmas and New Year.
Morrison has revived under former Tesco executive David Potts, who took over as chief executive in 2015 after sales slumped. He has cut prices, closed unprofitable stores and put more staff on the shop floor.
Recent industry figures showed Morrison was the fastest growing of the big four supermarkets.
Potts said: "We are pleased with a further step up in our competitiveness and another period of positive like-for-like sales growth. I am confident our plans to keep serving customers better will enable us to continue the strong momentum of the year so far into the important fourth quarter."