Morrisons ‘lost touch with core customers’: City
date:Jan 08, 2013
of a highly promotional market.

In the six weeks to December 30, total sales excluding fuel were down by 0.9% (0.5% including fuel).

Like-for-like sales fell by 2.5% and by 2.2% including fuel.

But the retailer said its financial position remains strong. Full-year net debt was expected to be in the range of 2.12.2bn. Its two-year programme to retire 1bn of equity, originally announced in March 2011, was well-advanced, it said. To date we have acquired 329M shares at a total investment of 93
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07/12 03:43