Morrisons reports growth in Q1 2024/25 with sales up 2.4%
Within the period, the retailer witnessed a 2.1% rise in like-for-like (LFL) sales, alongside a record high number of card-linked sales, which now account for 78% of total sales, with rewards available on every product.
Morrisons also identified additional cost savings of £56m during the quarter, contributing to an overall saving of £668m since the commencement of its cost-cutting initiatives.
The retailer has revised its savings target from £700m to £1bn over the medium term.
Over the quarter, the company bolstered its leadership team by appointing Andrew Staniland as group trading director for food, Matt Heslop as director of convenience and wholesale, and Matt McLellan as group data and media director.
Morrisons chief executive Rami Baitiéh stated: 'Despite a challenging environment, Morrisons has made exceptional progress in a very short time and that is entirely down to the hard work, positivity, talent and customer focus of the colleagues in our stores, in our food-making sites and in our operations across the country.'
In a separate development, Morrisons is introducing "Mums-only" checkouts in all its stores for one day - Mothers Day 2025, celebrated on Sunday 30 March.
This one-day event will see the retailer open 497 "Mums' Lanes".
Morrisons marketing events head Gareth Lloyd said: 'The reality is that many mums still end up doing chores like the weekly shop on Mother's Day – even though it is supposed to be the day that they are spoiled! Therefore, we've launched Mums' Lanes in stores to give a little something back to all the mums shopping with us on their special day.'
The retailer recently unveiled a comprehensive plan that includes closure of 17 convenience stores, 13 florist shops and others to revitalise its business operations.
"Morrisons reports growth in Q1 2024/25 with sales up 2.4%" was originally created and published by Retail Insight Network, a GlobalData owned brand.
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