Morrisons hails ‘supermarket renaissance’ as more people cook at home Business News

Morrisons hailed the “supermarket renaissance” by reporting strong sales during the latest coronavirus lockdown.

The UK’s fourth-largest grocery chain said more people preparing meals at home contributed to sales growth of 2.7% in the 14 weeks leading up to May 9. Online sales, including Morrisons’ partnership with Amazon, more than doubled from the same period last year.

Morrisons said he has seen significant growth in sales of snacks and take-out meals in recent weeks as the economy begins to reopen.

“The pandemic is not over yet, but it is receding across Britain and there is a lot of reason to be positive as something approaching normal life begins to take shape,” the boss said from Morrisons, David Potts.

“Our plazas are increasingly crowded, we are seeing recent encouraging signs of a strong rebound in takeout, takeout and salad counters, and our popular cafes will soon reopen fully.”

Before the restrictions were relaxed, Morrisons spent an additional £ 27million on Covid-19 costs such as shop stewards and staff absence coverage.

Morrisons wholesale division sales jumped 21% thanks to a new partnership with McColl Convenience Stores, where Morrisons supplied products to an additional 230 locations in the past three months.

About 1.1 percent of Morrisons’ overall like-for-like sales growth came from wholesale, the rest from its stores.

Fuel sales have returned to near pre-pandemic levels as motorists took more trips, Morrisons said.

Mr Potts added: “The nation has a summer of socializing and sport to look forward to and we can all rediscover the joys of coming together and eating well together.”

Analysts wondered if Morrisons could maintain its strong sales performance as life began to return to normal and people ventured out of their homes more.

Morrisons risk being stuck in the “tight middle” between discount chains like Aldi and higher-end competitors, said Ross Hindle, of research firm Third Bridge.

“Morrisons continues to foster its relationship with Amazon, sparking much speculation about a full-fledged acquisition by Amazon in the near future,” he said.