Group like-for-like sales up by 8.1% in the 22 weeks ended 3 January 2021
- Morrisons reports strong festive sales growth
- Group like-for-like sales up by 8.1% in 22 weeks ended 3 January 2021
- Retail sales increased by 7.2%, wholesale by 0.9%
- Online and wholesale channels growing rapidly
- Doorstep delivery service completed over 35,000 orders in two weeks before Christmas
- Wholesale like-for-like growth at 24.4% in Q4
- Full-year pre-tax profit expected to be between £420m and £440m
Morrisons has reported strong sales growth during the festive season, with group like-for-like sales rising to 9.3%. The company’s latest trading update revealed that customer and brand metrics have improved, market share has grown, and online and wholesale channels are experiencing rapid growth. The CEO of Morrisons, David Potts, praised the team for their hard work and dedication amidst challenging circumstances.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Morrisons’ sales performance during the Christmas and New Year period, including specific numbers and details on growth in various areas of their business. It also includes a quote from the CEO that adds context to the situation. There is no sensationalism or opinion masquerading as fact, and the information is relevant and objective.
Noise Level: 3
Noise Justification: The article provides relevant information about Morrisons’ sales performance during the Christmas and New Year period, including specific numbers and growth percentages. It also mentions changes in customer behavior due to Covid-19 restrictions and the CEO’s positive outlook for 2021. However, it lacks a deeper analysis of long-term trends or possibilities, does not hold powerful people accountable, and could provide more actionable insights for readers.
Financial Relevance: Yes
Financial Markets Impacted: Morrisons’ sales and profits
Financial Rating Justification: The article discusses Morrisons’ strong sales performance during the Christmas and New Year period, impacting its financials and outlook for the full-year pre-tax profit. This information is relevant to investors and can affect the company’s stock price in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours in this article. The CEO mentioned the severe effect of the pandemic, but it does not qualify as an extreme event in the context of the article.
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