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Morrison W.Sprmkts MRW 3rd Quarter Results



  Morrison W.Sprmkts (MRW) - 3rd Quarter Results

RNS Number : 6007Q
Morrison(Wm.)Supermarkets PLC
08 November 2012
 



                           News Release           

 

 

Release date: 8 November 2012

 

Wm Morrison Supermarkets PLC

Q3 Interim Management Statement - 13  weeks to 28 October 2012

 

With consumer confidence still fragile and high levels of promotional activity
a persistent feature of the market, the trading environment has remained
challenging through the period and sales were lower than anticipated.  In the
quarter to 28 October 2012, total sales* excluding fuel were down by 0.4% (up
0.2% including fuel) and like for like sales* were down 2.1% (down 1.3%
including fuel). 

 

The business is making good progress in delivering the strategic initiatives
which will provide a solid foundation for our future growth. During the period
we have introduced our market leading Fresh Format into a further 35 stores
and are on track to meet our target of extending this to 100 stores by the end
of this fiscal year.  We remain pleased with their progress both in terms of
sales performance and customer feedback. Our Own Brand relaunch which will
extend to 10,000 products is progressing well and we have made significant
progress in the delivery of Evolve, our IT infrastructure project, with the
introduction of the crucial supply chain management system.  We have also
launched Morrisons Cellar, our online wine operation.

 

Whilst we are encouraged by the progress of these strategic initiatives we
recognise the ongoing importance of improving our performance, particularly in
the communication of Morrisons key points of difference to our customers and
in improving the effectiveness of our promotional activity. We have put in
place a number of measures to enable us to achieve this.

 

We are well advanced on our programme to retire £1bn of equity over the two
years to March 2013. To date we have acquired 299m shares at a total
investment of £852m. The financial position of the Group remains strong.

 

Outlook

 

We expect the market to remain challenging for the remainder of the year.
However we continue to manage the business tightly and anticipate that our
full year financial performance will be broadly in line with our expectations.

 

 

*exc. VAT and reported in accordance with IFRIC 13

 

                                   - ENDS-

 

 

Enquiries:

 

Wm Morrison Supermarkets plc

                                               

                                                                                               

Richard Pennycook -  Group Finance Director                                   
0845 611 5000

Niall Addison - Investor Relations
Director                                          07764 624701

 

Media Relations

 

Wm Morrison Supermarkets plc           Richard
Taylor                         0845 611 6912

Citigate Dewe Rogerson:                      Simon
Rigby                              020 7282 2847

Kevin Smith                             020 7282 1054

 

 

There will be an analyst conference call at 9 a.m. today, the details of which
are as follows:

 

Dial in number:           +44 (0) 20 3003 2666 

Passcode:                    7730811

 

Replay facilities - +44 (0) 20 8196 1998  /  7730811 (7 days)

 

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
IMSFMMGMNNDGZZM -0- Nov/08/2012 07:00 GMT
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