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Morrisons sees sales boost from Aldi and Lidl price match

Published 25/06/2024, 13:05
© Reuters.  Morrisons sees sales boost from Aldi and Lidl price match

Proactive Investors - Wm Morrison Supermarkets is putting pressure on discounters like Aldi and Lidl after it posted another rise in sales during its most recent quarter.

Sales on a like-for-like basis surged 4.10%, when excluding fuel and VAT, during the three months ending April 28.

The growth was helped by the Aldi and Lidl Price Match scheme launched in February, which management said has gotten off to a “great start”.

It marks a slight slowdown from the 4.6% rise experienced in the quarter.

The private-equity-owned supermarket was also able to reduce its debt levels to £4.00 billion from a peak of £6.20 billion.

Morrisons has been under pressure from its German rivals, with Lidl closing in on its spot as the UK's fifth-largest supermarket, research from Kantar found.

Read more on Proactive Investors UK

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