Supermarket Sees 4.9% Q4 Like-for-like Sales Growth, Total Estate Over 1,600 Shops
- Morrisons’ FY revenues hit £15.3bn
- Q4 like-for-like sales up 4.9%
- 8 consecutive quarters of positive LFL sales
- Underlying EBITDA increased by 11.2% to £835m
- Sold petrol forecourts to MFG for £2.5bn in April 2024
- Acquired 36 convenience stores in Channel Islands
- Customer transactions increased, market share grew
- Improvements across the business led to better availability and sharper prices
Morrisons has reported a strong financial year with revenues reaching £15.3bn and like-for-like sales up by 4.1% for the full year. The Q4 performance marked the strongest quarter in four years, with a 3.8% increase to £3.8bn. Underlying EBITDA rose by 11.2% to £835m from last year’s £751m. The supermarket sold its petrol forecourts to MFG for £2.5bn in April 2024 and acquired 36 convenience stores in the Channel Islands, bringing its total estate to over 1,600 shops. CEO Rami Baitiéh highlighted the urgent reinvigoration and positive progress, while CFO Jo Goff emphasized a £150m improvement on their working capital programme and a £312m cost saving programme. The company’s focus is on investing in its estate and proposition, reducing debt.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Morrisons’ financial performance, including revenue growth, like-for-like sales, acquisitions, and operational progress. It also includes quotes from key executives to support the claims made.
Noise Level: 3
Noise Justification: The article provides relevant information about Morrisons’ financial performance and business developments without any irrelevant or misleading content. It includes specific data on revenue growth, like-for-like sales, acquisitions, and cost savings. The reporting is not exaggerated, and the article stays focused on the topic of the company’s performance. While it does not delve into long-term trends or provide actionable insights for readers, it still offers a clear picture of Morrisons’ progress and achievements.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses Morrisons’ financial performance, including revenue growth, underlying EBITDA, and cost savings. It also mentions the sale of petrol forecourts and acquisition of convenience stores. However, there is no direct mention of specific financial markets or companies being impacted.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the article.
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