In the year ending October 27, 2024, Morrisons saw a promising rise in revenue and market share, achieving a 4.1% increase in like-for-like sales. Earnings surged to £835 million, a notable rise from £751 million in the previous year. CEO Rami Baitieh highlighted key improvements across the business, emphasizing enhanced customer transactions, better product availability, competitive pricing, effective promotions, and a robust loyalty program that have contributed to this strong performance, marking the best quarter for the company since 2021.
Morrisons revenue rose in 2024 with similar sales climbing 4.1% and earnings increased to £835 million from £751 million the year before.
This has been a year of urgent reinvigoration and positive progress for Morrisons. Customer transactions increased and market share grew from Q2.
The improvements across the business have resulted in better availability in our stores, sharper prices, more effective promotions and a strong and growing loyalty scheme.
We saw positive switching from our competitors, marking the best quarterly performance since 2021.
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