HeadlinesBriefing favicon HeadlinesBriefing.com

Morrisons Sales Surge on Summer Heat and World Cup

Bloomberg Markets •
×

Morrisons reported a 3.2% rise in like‑for‑like sales for the 13 weeks ending July 26, marking its 15th straight quarter of growth. Hot summer weather and the World Cup drove shoppers to the UK supermarket chain, while the grocer cut its debt nearly in half compared to 2022 and approaches £1 billion in cumulative cost savings. The performance contrasts with rival Asda, which saw its ninth consecutive quarterly sales drop last month, though recent Worldpanel data shows a modest 0.1% increase for Asda over the 12 weeks to Sept. 6.

Both retailers face pressure in a competitive market, with Aldi closing in on Asda as the UK’s third‑largest supermarket and Lidl pushing Morrisons down to sixth place.