Supermarket Chain Sees Increased Revenue and Expansion in Q4

  • Morrisons’ EBITDA reaches £970m
  • Full-year revenue excluding fuel increases by 2.7% to £14.9bn
  • Q4 like-for-like sales excluding fuel up 3.3%
  • 190 McColl’s stores converted in Q4, total Morrisons Daily now over 800
  • Like-for-like uplifts on conversion around 20%
  • CEO Rami Baitiéh highlights talent and growth potential

Morrisons has announced a 6.5% increase in its EBITDA to £970m for the year ended October 29, 2023. The supermarket’s full-year revenue excluding fuel reached £14.9bn, up by 2.7% compared to last year. In Q4, like-for-like sales excluding fuel increased by 3.3%, marking the sixth consecutive quarter of improvement. Additionally, 190 McColl’s stores were converted in Q4 and an extra 131 in Q1, bringing the total Morrisons Daily stores to over 800. The like-for-like uplift on conversion is around 20%. CEO Rami Baitiéh acknowledges the company’s talent and growth potential, emphasizing its competitive online presence, convenience operations, and wholesale growth. He also highlights customer satisfaction improvements as a key focus for future development.

Factuality Level: 10
Factuality Justification: The article provides accurate information about Morrisons’ financial performance, including EBITDA, total revenue, and like-for-like sales growth. It also includes relevant quotes from the CEO, Rami Baitiéh, discussing plans for future improvements and customer satisfaction.
Noise Level: 3
Noise Justification: The article provides relevant information about Morrisons’ financial performance and CEO’s comments on future plans, but lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Morrisons’ financial performance impacts its stock price and potentially other supermarket stocks
Financial Rating Justification: The article discusses Morrisons’ financial performance, including EBITDA, total revenue, like-for-like sales, and store conversions, which can affect the company’s value and investor sentiment.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme events mentioned in the article

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