Morrisons Shares (LON:MRW) opened higher on Tuesday after the group recorded an 8.1% increase in sales in the 22 weeks ending January 3rd.
Sales, including fuel, increased by 1.9%. Strong demand over the celebration period tripled the online sales as salmon sales increased by 40%, champagne sales increased by 64%, and Mince Pies sales increased by 14%.
Despite the rise in sales, Morrisons says profits are likely to be hit by new lockdown measures. Total COVID-related costs are expected to reach £280 million this year.
The full year profit forecast is between £420 million and £440 million. This remains in line with expectations despite the “very unpredictable current situation.”
CEO David Potts said:
“We are extremely pleased with the way the Morrisons team has helped our customers across the country enjoy Christmas in the best ways, with the best shopping, great service and outstanding stores even in the most difficult situations.”
Morrisons said they will provide parking to host vaccination centres. Three parking lots will hold vaccinations this week, and the supermarket will offer another 47 locations to help roll out.
Morrisons Shares (LON:MRW)
