January 27 2015 Latest news:
Thursday, January 9, 2014
Morrisons and Tesco today reported sharp declines in sales after a “very challenging” Christmas for the supermarket sector.
Industry leader Tesco said like-for-like sales were down 2.4pc in the six weeks to January 4, while a fall of 5.6pc at Morrisons led the Bradford-based chain to warn that profits will be short of some City hopes.
Morrisons said consumers had been managing their budgets very tightly and were shopping across a range of formats and retailers.
The latest downbeat figures from the sector come amid recent market share gains for discount rivals Aldi and Lidl.
Community media group Archant has announced plans to support a major new property portal, OnTheMarket.com, which will go live today.