WM Morrison Supermarkets (LON: MRW) has today provided interim results for the half year to 4th August 2019. Financial summary · Group like-for-like (LFL) sales(1) ex-fuel/ex-VAT up 0.2% (2018/19: 4.9%) · Q2 Group LFL ex-fuel/ex-VAT down 1.9% (Q2 2018/19: up 6.3%) · Total revenue up 0.4% to £8.83bn (2018/19: £8.80bn) · Profit before tax and exceptionals(2) up 5.3% to £198m …
As previously announced, WM Morrisons Supermarkets PLC (LON:MRW) is adopting the fully retrospective approach to the new IFRS 16 lease standard. At the 2018/19 preliminary results, we outlined the impact of IFRS 16. It will have no economic effect on the business or cash flow. It does however impact the way assets, liabilities and the income statement are presented. Our …
WM Morrison Supermarkets PLC (LON:MRW) and Amazon today announced that they are expanding the ‘Morrisons at Amazon’ store on Prime Now to many more cities across the UK. ‘Morrisons at Amazon’ is an ultra-fast same day, online grocery home delivery service, currently available to Amazon Prime Now customers in four cities: Leeds, Manchester, Birmingham, and parts of London and the home counties. Customers …
Wm Morrison Supermarkets Plc (LON:MRW) today announced Q1 Trading Statement – 13 weeks to 5 May 2019 For the 13 weeks to 5 May, Group like-for-like* (LFL) sales excluding fuel were up 2.3%, comprising contributions from retail of 0.2% and wholesale of 2.1%. Group LFL including fuel was up 2.7%. Total sales* were up 2.4% excluding fuel (2.9% including fuel). …
Online partners Morrisons (Wm)Supermarkets Plc (LON:MRW) and Ocado have agreed that Ocado will have sole use of the new Erith customer fulfilment centre (CFC) until January 2021. This enables extra capacity for Ocado following the recent fire at the new Andover CFC. Morrisons will return to the Erith CFC in February 2021, at the pre-agreed proportion of Erith’s capacity. During …
Andrew Higginson, Chairman, said “In a challenging period for customers and an ever-changing British retail scene, the turnaround at Morrisons has continued to progress well. The team has now completed four years of important work, building Morrisons as a broader, stronger business. “I am delighted that sales and profit again grew strongly, and that we are able to share that growth …
Morrison(WM.) Supermarket Plc (LON:MRW), today released a trading update. For the nine weeks to 6 January, Group like-for-like* (LFL) sales excluding fuel were up 3.6%, comprising contributions from retail of 0.6% and wholesale of 3.0%. Group LFL including fuel was up 3.4%. Total sales* were up 4.0% excluding fuel (3.8% including fuel). As has been widely reported, there was a …
Wm Morrison Supermarkets Plc (LON:MRW), today announced Q3 Trading Statement – 13 weeks to 4 November 2018
For the 13 weeks to 4 November, Group like-for-like* sales excluding fuel were up 5.6%, comprising contributions from retail of 1.3% and wholesale of 4.3%. Group LFL including fuel was up 6.0%. As expected, retail LFL sales growth eased slightly quarter on quarter without the impact of the favourable weather and World Cup which benefitted Q2. Total sales* were up 6.0% excluding fuel (6.4% including fuel).
Sales growth was again strong, with a better and broader offer for customers across the whole store. Morrisons now has almost 1,000 year-round ‘Best’ products, and over 250 exclusively for Christmas. Our ‘Naturally Wonky’ range continues to trade strongly across 30 seasonal Fruit & Veg items. We have also introduced more loose local produce in stores, which is proving popular with customers and removes unnecessary plastic. In addition, we are expanding
Wm Morrison Supermarkets Plc (LON:MRW) today announced that Trevor Strain will assume the additional responsibilities of Group Commercial Director with immediate effect, and become Group Chief Finance & Commercial Officer. He takes over Commercial Director responsibilities from Darren Blackhurst, who is moving to a projects role reporting to the CEO.
David Potts, Chief Executive, said:
“Trevor has played, and continues to play, a critical part in the ongoing turnaround of Morrisons and his responsibilities are already significantly wider than those of the traditional CFO, including our property and online operations. Now is the right time for him to take on the important new responsibilities of Commercial Director, where he has already been increasingly involved.
“Trevor has built an outstanding finance team, with significant strength in depth, providing the capacity required for his new responsibilities.
“We are now in our fourth year of the Morrisons
Morrison W.Sprmkts (LON:MRW), today announced the interim results for the first half year to 5 August 2018.
●Group like-for-like (LFL) sales(1) ex-fuel/ex-VAT up 4.9% (2017/18: 3.0%)
●Q2 Group LFL ex-fuel/ex-VAT up 6.3%, a nine-year high
●Revenue up 4.5% to £8.80bn (2017/18: £8.42bn)
●Underlying profit before tax (UPBT(2)) up 9.0% to £193m (2017/18: £177m)
●Underlying earnings per share (EPS(2)) up 8.5% to 6.28p (2017/18: 5.79p)
●Reported PBT down 29% to £142m (2017/18: £200m) after net adjustments of £51m, including £33m previously announced for successful bond tender offers and £28m following a change in methodology for estimating stock provisions
●Free cash flow(3) of £242m, including bond tender costs and lower disposal proceeds year on year in the first half (2017/18: £352m)
●Net debt reduced by a further £44m to £929m since the end of 2017/18
●Interim ordinary dividend