finance

Morrisons stocks up on 'cupboard fillers'


Morrisons storeImage copyright
Getty Images

The boss of Morrisons has said the supermarket was stocking up on “cupboard fillers” in preparation for a potential no-deal Brexit.

However, the supermarket chain would not give any details of which products were involved.

Chief executive David Potts did say there had been a recent rise in sales of painkillers and toilet rolls.

Morrisons is considering alternative routes to import goods if its usual supply lines were delayed, he added.

In the event of a no-deal Brexit there are fears that there could be disruption at ports and Morrisons has also been looking at alternative ports and ways of getting goods into the country.

Sales of painkillers and toilet rolls had risen by high single-digit percentages in recent weeks.

“We have seen a very small amount of customers buying in,” said Mr Potts.

Morrisons also announced a third consecutive year of strong sales and profit growth.

It reported an annual underlying pre-tax profit of £406m, up 8.6%.

Like-for-like sales, which strip out stores open for less than a year, were up 4.8%, excluding fuel and VAT.

The retailer said the results showed the Morrisons turnaround plan was “well on track”.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.