// Morrisons was the only major player except Waitrose to see sales drop in the last three months
// Morrisons’ current share of the grocery market is 9.1%, behind Aldi on 9.2% and now it faces the prospect of being overtaken by Lidl
Morrisons has continued to lose ground against rival grocers as its woes under private equity ownership continue.
The Bradford-based supermarket, which was once the UK’s fourth biggest, was the only major player except Waitrose to see sales drop in the last three months.
The grocer reported a 15% drop in full-year profits to £828m for the 52 weeks ending October 30, 2022.
It suffered a 1.9% slip, with overall sales in the 12 weeks to January 22 coming in at just under £3.1bn while the rest of the traditional grocers (Tesco, Sainsbury’s and Asda) all grew sales by at least 6%, Kantar figures showed.
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Aldi, which replaced Morrisons in the Big 4 last September, extended its lead and was the UK’s fastest-growing supermarket in the period as sales soared 26.9% to over £3.1bn as shoppers flooded in looking to save their cash.
Lidl also benefited from an influx of new shoppers, with sales jumping 24.1% to £2.4bn.
Morrisons’ current share of the grocery market is 9.1%, behind Aldi on 9.2%.
It now faces the prospect of being overtaken by Lidl, which makes up 7.1% of the market.
Clayton, Dubilier & Rice (CD&R) won an auction for Morrisons with a £7bn bid back in 2021 but only officially took over last June after the CMA approved the acquisition.
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Morrisons continue to attempt to hoodwink their customers with false promotions and misleading in store pricing. Many customers now only shop at Morrisons for convenience, as doing a full shop is cost prohibitive.
Very good service thanks
Good staff.
Morrisons is too expensive eh?