Morrisons’ sales rise through credit crunch

Morrisons sees increase in shoppers - photo curtesy of Route 79 on www.flickr.com

Morrisons sees increase in shoppers - photo curtesy of Route 79 on http://www.flickr.com

By Nichole Guthrie

Morrison’s supermarket chain has seen its like-for-like sales rise 8.1% since this time last year, according to global market research specialists TNS.

The sales, which exclude petrol and new stores, are said to be have risen thanks to 700,000 new shoppers visiting the chain every week.

Its ‘Price Crunch’ deals and the ‘Market Street’ fresh food line sold at low prices are luring in customers.

Morrisons’ Chief executive Marc Boland said in a statement: “In this challenging economic environment more customers than ever before are choosing Morrisons.”

The chain has also seen more of a rise that its rivals. Tesco reported a 2% rise, 6.9% for Asda and 4.3% for Sainsbury’s.

The future plans to purchase 38 Co-operative Group stores for £223 million shows the chain isn’t phased by the economic crisis.

The purchase will go through once Co-op’s aquisition of Somerfield is complete. Morrisons’ said in a statement: “The acquisition is conditional upon a successful completion of the Co-operative Group’s acquisition of Somerfield and certain competition approvals.”

Morrisons could not comment.

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