Morrison Supermarkets Sees Earnings Boost After Strong Christmas Trading
10 Januar 2017 - 8:54AM
Dow Jones News
By Tapan Panchal
LONDON--Wm. Morrison Supermarkets PLC (MRW.LN) said it had its
best Christmas trading period in seven years in December, setting
the British company up for better-than-expected earnings in its
current fiscal year.
The U.K.'s fourth biggest supermarket chain said like-for-like
sales, excluding fuel, for the nine weeks to Jan. 1 were up 2.9%
compared with the same period a year earlier. Total sales,
excluding fuel, were up 2.0%.
Morrisons, which is the first British supermarket operator to
report its trading performance after the key Christmas period, said
it now expects fiscal 2017 underlying pretax profit to be ahead of
consensus and in the range of 330 million pounds ($402.48 million)
to GBP340 million.
The market consensus for fiscal-year underlying pretax profit is
GBP326 million, according to the company. In the year to Jan. 31,
2016, the company recorded underlying pretax profit of GBP242
million.
Rival supermarket chain J Sainsbury PLC (SBRY.LN) is scheduled
to report its trading performance Wednesday and the country's
biggest grocer Tesco PLC (TSCO.LN) slated to report on
Thursday.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
January 10, 2017 02:39 ET (07:39 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Tesco (PK) (USOTC:TSCDY)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Tesco (PK) (USOTC:TSCDY)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über Tesco PLC (PK) (OTCMarkets): 0 Nachrichtenartikel
Weitere Tesco (PC) News-Artikel