Morrisons reports 4.6% Q1 sales growth, led by new CEO Rami Baitieh striving to compete with Aldi and Lidl.
Morrisons, the UK's fifth-largest supermarket, reported a 4.6% increase in sales in its first quarter, the strongest growth in three years. New CEO Rami Baitieh, who took over in September, is working to revitalize the supermarket chain and compete with German discount rivals Aldi and Lidl on price. Morrisons' total sales increased by 3.9% to £3.9 billion during the period. The sales growth comes amid a period of rising food and drink prices, but food inflation has slowed in recent months.
March 27, 2024
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