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Morrisons saw slower sales growth due to inflation and rising costs, despite price cuts and £63M in savings.
Morrisons, the UK's fifth-largest supermarket, reported a sales slowdown in the latest quarter as rising food prices, with inflation at 5.1% in August, strained household budgets.
CEO Rami Baitieh cited inflation and government cost pressures, including minimum wage hikes and new taxes, as key challenges.
To help customers, Morrisons cut prices on about 650 items and adjusted promotions, while achieving £63 million in cost savings, staying on track for a £1 billion savings target by 2026.
Total sales rose 3.5% to £4 billion for the 13 weeks ending July 27, down from 4.2% growth the prior quarter.
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Morrisons registró un crecimiento más lento de las ventas debido a la inflación y al aumento de los costos, a pesar de los recortes de precios y 63 millones de libras esterlinas en ahorros.