Despite a fall in sales, Morrisons said that sales trends improved over the Christmas period as the retailer continued to make progress across its trading strategy. Like-for-like sales improved on recent results and the retailer grew volume market share in food.
However, it also announced that it is parting company with Chief Executive.Dalton Philips, who has been in the role for five years. Mr Philips will continue in his role until the year-end results are published in order to ensure a smooth transition. Dalton Philips said, “Morrisons is a great company with exceptionally talented people and I have been very proud to have worked with them. Over the last five years, we have made many improvements to the business and given Morrisons strong foundations for the future. I wish every success to the company and all of my colleagues, who have, and continue to work so hard.”
In the six weeks to 4 January, total sales excluding fuel were down by 1.3% and like-for-like sales excluding fuel down were down 3.1%.
New chairman Andrew Higginson added, “In the next chapter of Morrisons development, we need to return the business to growth. The Board believes this is best done under new leadership. I would like to thank Dalton for his contribution as CEO. He has brought great personal qualities and values to his leadership of the business, having had to manage against a background of considerable industry turmoil and change.”
