Morrisons has revealed a slowdown in sales growth for the latest quarter amid “softer” market conditions.
The retailer also confirmed that it will raise its minimum pay for store workers to £12 next month as part of a £151 million investment. “Our price competitiveness improved further in the quarter as our Aldi and Lidl price match, More Card offers and everyday low prices combined to give customers increasing confidence in Morrisons’ great value.”
It said Morrisons will sell 76 properties to an undisclosed business, before these are then leased back to the retail firm.Morrisons, which was bought by US private equity firm Clayton, Dubilier & Rice in 2022 for £7 billion, is the fifth-largest supermarket chain in the UK.
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