This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13290742
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Morrisons 'cautious' despite sales rise | Morrisons 'cautious' despite sales rise |
(about 2 hours later) | |
Supermarket group Morrisons has posted stronger-than-expected sales but says it remains "cautious" given the financial pressures facing shoppers. | Supermarket group Morrisons has posted stronger-than-expected sales but says it remains "cautious" given the financial pressures facing shoppers. |
Like-for-like sales - which ignore new stores - excluding petrol and VAT rose 2.5% from a year ago in the 13 weeks to 1 May, ahead of forecasts. | |
Promotional campaigns around the Easter and royal wedding weekends had boosted trade, the Bradford-based firm said. | Promotional campaigns around the Easter and royal wedding weekends had boosted trade, the Bradford-based firm said. |
But looking ahead it noted that economic conditions remained tough. | But looking ahead it noted that economic conditions remained tough. |
"The board is encouraged by the group's progress in the first quarter but with consumers' disposable incomes falling and an uncertain economic environment, we remain cautious," Morrisons said. | "The board is encouraged by the group's progress in the first quarter but with consumers' disposable incomes falling and an uncertain economic environment, we remain cautious," Morrisons said. |
"Our overall expectations for the full year remain unchanged." | |
On Wednesday, fashion retailer Next raised its annual profits forecast after saying that the recent hot weather had boosted sales at its stores. | On Wednesday, fashion retailer Next raised its annual profits forecast after saying that the recent hot weather had boosted sales at its stores. |
However, Next added that it did not expect this sales lift to continue over the next few months. | However, Next added that it did not expect this sales lift to continue over the next few months. |
Earlier this year, Tesco said its underlying UK sales had fallen 0.7% in the three months to 26 February, while Sainsbury's sales including VAT rose 1% in the 10 weeks to 19 March. |
Previous version
1
Next version