Morrisons reveals growth ‘well ahead’ of rivals

Author: By Kelly Macnamara, Press Association

The supermarket chain said like-for-like sales, excluding fuel and VAT, were
up 4.3 per cent in the 13 weeks to 1 November, a slowdown from the previous
period as falling food inflation took its toll.

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Asda delivers storming full-year sales but profits slip

Author: By James Thompson

The Wal-Mart-owned grocer said total sales surged by 11 per cent to £18.6bn
over the 12 months to 31 December 2008, compared with £16.7bn the previous
year, as its low-price message struck a chord with consumers during the
downturn. But pre-tax profits at Asda, which unveils its third-quarter sales
on Thursday, slipped to £520.4m in 2008, down from £532.7m the year before,
according to accounts filed at Companies House over the weekend. The grocer
said the fall in pre-tax profit was due to the impact of an accounting
adjustment for share options in Wal-Mart granted to Asda employees, which
resulted in an increase in share option costs of £87.7m. Excluding this
impact, Asda said its underlying profits ?grew broadly in line with sales
and were ahead of internal targets?.

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