Morrison(Wm.)Supermarkets PLC Q1 Trading Statement (1167E)
May 04 2017 - 1:00AM
UK Regulatory
TIDMMRW
RNS Number : 1167E
Morrison(Wm.)Supermarkets PLC
04 May 2017
News Release
Release date: 4 May 2017
Wm Morrison Supermarkets Plc
Q1 Trading Statement - 13 weeks to 30 April 2017
In the 13 weeks to 30 April, Group like-for-like(*) (LFL) sales
excluding fuel were up 3.4%, comprising contributions from Retail
of 3.0% and Wholesale of 0.4%. Group LFL including fuel was up
6.3%. Total sales(*) excluding fuel were up 2.8% (up 5.8% including
fuel) after the impact of last year's store closures.
LFL volume was again positive, with more customers shopping more
often at Morrisons. There was some inflation during the period, as
imported food prices were affected by lower sterling. Irrespective
of these external pressures, we remain focussed on the journey
towards a Morrisons price list and becoming more competitive for
customers, and we introduced another wave of 'Price Crunch' lower
prices just this week.
We performed well throughout the quarter, especially during the
key events of Valentine's Day, Mother's Day and Easter. We continue
to serve our customers better, with satisfaction levels again
improved, shorter queues during the busiest periods such as Easter,
and our new ordering system successfully introduced across more of
our range.
During the period, we further expanded our 'Best' range and
introduced a healthy eating 'Eat Smart' range. Our new Nutmeg
clothing Womenswear offer was introduced into over 50 stores, and
the Nutmeg brand was extended into baby and child accessories. We
launched a new website, flowerworld.co.uk, offering a range of
fresh bouquets for free next day delivery to customers anywhere in
Britain, and we introduced a new online and in-store 'Food to
Order' offer for Spring/Summer allowing customers to pre-order for
parties or other special events all year round. In addition,
'Morrisons at Amazon' continues to grow, with the same-day and
one-hour delivery service recently extended into more London
postcodes.
David Potts, Chief Executive, said:
"Our new financial year has started well, thanks once again to
the dedication of our team of food makers and shopkeepers. We are
improving the shopping trip in many different ways, which is making
Morrisons more popular and accessible for customers. These new
initiatives in-store, online, in wholesale and services are
beginning to build a broader, stronger Morrisons.
"We are confident we will continue to turnaround and grow
Morrisons. Our expectations and guidance for 2017/18 are unchanged,
including year-end net debt of less than GBP1bn."
* Reported ex-VAT and in accordance with IFRIC 13.
LFL sales performance (ex-VAT)
2016/17 2017/18
------------------------ ----------------------------------------------- --------
Q1 Q2 H1 Q3 Q4 H2 FY Q1
------------------------ ----- ----- ----- ----- ----- ----- ----- --------
Retail contribution
to LFL(1) 0.7% 2.0% 1.4% 1.6% 2.5% 2.1% 1.7% 3.0%
------------------------ ----- ----- ----- ----- ----- ----- ----- --------
Wholesale contribution
to LFL(2) 0.0% 0.1% 0.0% 0.2% 0.4% 0.3% 0.2% 0.4%
------------------------ ----- ----- ----- ----- ----- ----- ----- --------
Group LFL ex-fuel 0.7% 2.1% 1.4% 1.8% 2.9% 2.4% 1.9% 3.4%
------------------------ ----- ----- ----- ----- ----- ----- ----- --------
Group LFL inc-fuel 1.2% 2.4% 1.8% 3.5% 4.8% 4.2% 3.0% 6.3%
------------------------ ----- ----- ----- ----- ----- ----- ----- --------
Reported in accordance with IFRIC 13.
(1) Retail includes supermarkets and Morrisons.com sales.
Morrisons.com sales contributed 0.5% in Q1 2017/18
(2) Wholesale comprises sales to third parties, including those
via our Manufacturing business
Summary of Retail operational key performance indicators(3)
2016/17 2017/18
--------------- ------------------------------------------------------ --------
Q1 Q2 H1 Q3 Q4 H2 FY Q1
--------------- ------ ------ ------ ------ ------ ------ ------ --------
LFL Number of
transactions 3.1% 4.3% 3.7% 4.1% 4.6% 4.3% 4.0% 4.6%
--------------- ------ ------ ------ ------ ------ ------ ------ --------
LFL Items per
basket -2.8% -5.0% -3.9% -5.5% -5.3% -5.4% -4.6% -6.9%
--------------- ------ ------ ------ ------ ------ ------ ------ --------
(3) Excludes Morrisons.com sales
Notes:
This announcement includes inside information.
- ENDS-
Enquiries:
Wm Morrison Supermarkets plc
Trevor Strain - Chief Financial
Officer 0845 611 5000
Andrew Kasoulis - Investor
Relations Director 0778 534 3515
Media Relations
Wm Morrison Supermarkets Julian
plc: Bailey 0796 906 1092
Citigate Dewe Rogerson: Simon Rigby 0207 282 2847
Kevin Smith 0207 282 1054
There will be an analyst conference call at 8:30 a.m. today, the
details of which are as follows:
Dial-in number: +44 (0) 330 336 9411
Password: Morrisons
Replay facility available for 7 days:
Replay dial-in
number: +44(0) 207 984 7568
Access Pin: 7920665
This information is provided by RNS
The company news service from the London Stock Exchange
END
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