UK Supermarket Morrisons' Sales Growth Slows in 'Tough Market'
British supermarket group Morrisons on Wednesday reported a slowdown in underlying sales growth in its third quarter, highlighting "tough market conditions".
The UK's fifth-largest grocer, owned by U.S. private equity firm Clayton, Dubilier & Rice since 2021, said its like-for-like sales rose 3.0% in the 13 weeks to July 27, compared with a rise of 3.9% in the previous quarter.
Morrisons, which trails industry leader Tesco, Sainsbury's, Asda and discounter Aldi in UK market share, cited quickening inflation and challenging economic...
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