Record customer numbers for Morrisons

Fiona Bond
19.11.09 08:59

Perseverance paid off for supermarket chain Morrisons (MRW) after it welcomed a record number of customers into its store in the three months to November.

A record 10.8 million customers walked through its doors each week during the period, up over 1.6 million since Morrisons first launched its Food Specialist for Everyone strategy in 2007.

As a result, the supermarket's total sales for the 13-week period rose by 9.1%, while like-for-likes sales grew 4.3% - although the latter figure was marginally below analysts' predictions of 4.6% growth and failed to match the 7.8% recorded in the first half of the year.

In its quarterly statement, Morrisons admitted that a fall in food inflation prices and market growth had impacted its figures from rising further, but maintained that numbers were in line with expectations and remained consistent with the growth experience in the second quarter.

The company's expectations for the current year remain unchanged, Morrisons added.

Morrisons has launched 37 new stores so far this year and opened its new regional distribution centre at Sittingbourne ahead of schedule.

Outgoing chief executive, Marc Bolland, commented: "Morrisons continues to grow ahead of the market driven by our award winning combination of outstanding quality, fresh food and great value. I am pleased that more and more customers are attracted to Morrisons, as we continue our journey from national to nationwide."

Bolland has been widely credited with turning the fortunes of Morrisons around since his arrival in 2006, following a wobbly period for the company after its acquisition of Safeway.

However, today's figures come just 24 hours Bolland's announcement that he will be leaving the helm to take up the top position at Marks & Spencer. Dutch-born Bolland will replace Sir Stuart Rose who is expected to remain part-time chairman until handing over full responsibility in June 2011.

A new replacement for Morrisons has not yet been announced, although names in the pipeline include Richard Pennycook, current finance director of the supermarket.

Morrisons' shares were marginally down at 279.30p.

Record customer numbers for Morrisons

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