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| Morrisons' Christmas sales 'disappointing' | Morrisons' Christmas sales 'disappointing' |
| (35 minutes later) | |
| UK supermarket chain Morrisons has said its sales over Christmas were "disappointing", even after taking into account difficult market conditions. | UK supermarket chain Morrisons has said its sales over Christmas were "disappointing", even after taking into account difficult market conditions. |
| href="http://online.hemscottir.com/ir/mrw/ir.jsp?page=news-item&item=1234362863526664" >It said that in the six weeks to 30 December like-for-like sales, which exclude new store openings, fell 2.5% compared with the same time last year. | |
| Morrisons said the figures showed it needed to improve its promotions. | Morrisons said the figures showed it needed to improve its promotions. |
| It also said that they showed the importance of online shopping, which Morrisons does not offer. | It also said that they showed the importance of online shopping, which Morrisons does not offer. |
| "Notwithstanding these difficult market conditions, which we expect to continue through 2013, our sales performance in the period was disappointing," the retailer said in a statement. | "Notwithstanding these difficult market conditions, which we expect to continue through 2013, our sales performance in the period was disappointing," the retailer said in a statement. |
| "This reflects both the need to improve our promotional innovation and the communication of our points of difference... and the accelerating importance of other channels, such as online and convenience, which Morrisons has only recently entered." | "This reflects both the need to improve our promotional innovation and the communication of our points of difference... and the accelerating importance of other channels, such as online and convenience, which Morrisons has only recently entered." |
| It plans to have opened 70 convenience stores by the end of the year. | |
| Morrisons - the UK's fourth largest supermarket group - said that despite the disappointing six-week period it still expected its full-year results to be in line with its previous forecasts. | Morrisons - the UK's fourth largest supermarket group - said that despite the disappointing six-week period it still expected its full-year results to be in line with its previous forecasts. |
| Ant & Dec | |
| Morrisons is the first of the big four UK supermarket groups to report Christmas sales. | Morrisons is the first of the big four UK supermarket groups to report Christmas sales. |
| Rahul Sharma, director of retail consultancy Neev Capital, said Morrisons was also suffering from a resurgent Tesco. | Rahul Sharma, director of retail consultancy Neev Capital, said Morrisons was also suffering from a resurgent Tesco. |
| "The fact is Tesco is throwing a lot of promotional money and using a lot of offers to bring people back into the stores," he told the BBC. | "The fact is Tesco is throwing a lot of promotional money and using a lot of offers to bring people back into the stores," he told the BBC. |
| "I think that's a big reason why Morrisons is getting hurt as well." | "I think that's a big reason why Morrisons is getting hurt as well." |
| Tesco's Christmas figures will be out on Thursday while Sainsbury's will update the markets on Wednesday. | Tesco's Christmas figures will be out on Thursday while Sainsbury's will update the markets on Wednesday. |
| Morrisons is in the process of revamping its advertising, having announced at the end of last week that it had signed Ant and Dec to front its commercials. | |
| The supermarket chain will also be sponsoring some of their Saturday night television programmes such as Britain's Got Talent and Ant & Dec's Saturday Night Takeaway. | |
| The fall in sales was still towards the top end of analysts' expectations and Morrisons' shares rose 1% in early trading in London. |