At Morrisons, it’s sometimes hard to decide whether the shopping basket is half-full or half-empty. Yesterday’s Christmas trading statement doesn’t make it any easier, especially as it is the first of the big grocers to report.
True, like-for-like sales growth in the stores in the nine weeks to January 6 was in positive territory and just about beat expectations. The shopper slumber depressing the whole sector in November seems to have ended with a last-minute rush in late December. The foray into wholesale also seems to be going well, with sales up by 3 per cent, thanks to big-name signings like Amazon as well as other customers such as the McColl’s convenience store group.
But looked at from another angle, the numbers weren’t exciting.