Morrisons loses out in Christmas promotions
Supermarket chain Morrisons admitted that its Christmas sales were below par after feeling the heat from rivals in a "highly promotional" market.
The UK's fourth-biggest grocer, with 455 UK stores, reported a 2.5% decline in like-for-like sales for six weeks to December 30, which it called disappointing. It follows a 2.1% decline in the previous quarter. But it said it remained on track for profit expectations.