• From The BBC:

    Shares in supermarket group Morrisons ended 8.1% higher after the firm said it expected to report annual profits ahead of its previous forecasts.The UK’s fourth-largest supermarket did not provide figures, but said sales growth was “well ahead of the market”. Shoppers were attracted by its “keen positioning on price”, it said. A TNS Worldpanel survey of the grocery sector found Morrisons’ market share had risen to 11.6% in the 12 weeks to 12 July, up from 11.2% a year ago. The figures indicated that Morrisons had seen the fastest year-on-year growth in the sector. “The combination of strong price-crunch message and the focus on fresh food has seen Morrisons post a 22nd successive period of market share growth,” said Fraser McKevitt, analytical consultant at TNS Worldpanel. The TNS figures showed that both Asda and Sainsbury’s had also increased their market share – to 17% and 16% respectively. Market leader Tesco saw its share dip slightly to 30.8% from 30.9% a year ago. Cost focusMorr…

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    Posted by Jon @ 5:43 pm

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