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Morrisons Q1 sales fall Thursday, 3rd May 2012
Photo credit: Wm Morrisons Supermarkets plc
The UK’s fourth largest supermarket has reported a fall in like-for-like sales of 1 per cent excluding fuel for its first quarter.
Morrisons suffered from tough comparables from the year before, which saw like-for-like sales rise 2.5 per cent on the back of a warm Easter and nationwide royal wedding celebrations.
"As expected, the economic environment for the consumer has remained challenging, with the high price of oil and other commodity prices putting pressure on disposable incomes," Morrisons said in a statement on Thursday.
A 1.5 per cent rise in total sales for the supermarket has been attributed to the 34 new stores that opened in the year to the end of April.
Like-for-like sales in the three months to the end of April including fuel rose 0.9 per cent, while total sales including fuel stood at 3.1 per cent.