UK retailer Morrisons has reported a 'disappointing' Christmas trading period. Like-for-like sales at the supermarket chain dropped 2.5 per cent excluding fuel in the six weeks to 30 December, with a particularly challenging environment over the festive period.
CEO Dalton Philips said, "In a difficult market our sales performance was lower than anticipated, but we have a strong business and significant opportunities to advance our strategy, as we accelerate our multi-channel offer.” While many of the group's competitors have flourishing e-retailing businesses, Morrisons has yet to fully launch its online offering, though it is expected to be unveiled shortly. Morrisons has lost up to £314 million by failing to establish its online business, research by Oxford Economics for digital agency Head indicated, according to International Supermarket News. (7 Jan)
© 2013 - ESM: European Supermarket Magazine
