Morrisons has today updated investors on Q1 trading for the 13 weeks ending 26 January 2025. Morrisons said total sales were up 2.4% to £4.0 billion. Rami Baitiéh, Chief Executive, said: "In the quarter we delivered a further £56m of cost savings and we expect to deliver the remainder of our £700m target ahead of schedule in the second quarter."
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00:00Hello, I'm Greg Wright of the Yorkshire Post. Here are your business headlines for today.
00:06Morrisons has updated investors on its first quarter trading for 13 weeks to 26th January.
00:13In the update, Morrison said that group like-for-like sales were up by 2.1% and total sales were
00:21up by 2.4% to £4bn. It also said there had been a further £56m of cost-saving
00:29savings in the first quarter, taking the total to £668m since the start of the programme.
00:37The target has been raised from £7m to £1bn in the medium term, Morrison said.
00:45Morrison said that despite a challenging environment, it had made exceptional progress in a very
00:49short time. My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire
00:54Post.