Troubled supermarket chain Morrisons has reported another fall in sales, despite attempts to stabilise the brand.
In the third quarter, like-for-like sales excluding fuel fell by 2.6%, higher than analysts were expecting.
The company cited a reduction in the number of promotional vouchers on offer as the reason for the poor performance, however chief executive David Potts said the retailer was “making good progress in many areas”.
The chain has suffered a spate of bad results; in March, it reported a drop of 52 percent, its worst result in eight years. The company have recently sold off 140 of its ‘M’ brand convenience stores in a deal worth £25 million, in a further attempt to pull back its results.
In his statement, Potts said that the company was continuing “to stabilise trading, reduce costs and further improve the capability of the leadership team”.
