Morrisons has praised its “resilient” performance in 2025, hitting 12 consecutive quarters of like-for-like sales growth by the company’s October year end.
Also updating investors on a “good performance in a competitive market” over the Christmas period, Morrisons revealed its full-year revenues had grown 3.2% to £15.8bn in the 52 weeks to 26 October 2025.
Despite lower-than-inflation like-for-like sales growth of 2.8% in the year, and “significant and largely unexpected external cost headwinds”, Morrisons managed to maintain its estimated underlying profit at £835m.
The supermarket reduced its statutory loss to £381m, a £33m improvement on the prior year.
Morrisons CEO Rami Baitiéh said the year had been one of “renewal and modernisation” for the supermarket.
“In a year when consumers were feeling the squeeze, we grew like-for-like sales for a 12th consecutive quarter, maintained EBITDA and our market share, and demonstrated our resilience in the face of some tough external headwinds, from the cyber incident, rising inflation and government cost increases, which we worked hard to offset,” he said.
“In Q4 we also made the changes and investments in prices, promotions and loyalty that laid the foundations for more robust momentum in the first quarter of the new financial year.”
The supermarket also reported strong progress on digital initiatives, with double-digit online sales growth and 11% more Morrisons More Card users gained in the year.
Morrisons CFO Jo Goff added: “We worked hard during the year to offset the significant and unexpected cost headwinds arising from the government’s 2024 budget and other inflationary pressures, with our cost reduction programme delivering savings of £233m, to take the total to date to £845m. We expect to exceed our £1bn savings target by the end of FY26.”
Morrisons’ savings, and targeted divestitures, have helped the company chip a further 10% off its gross debt pile, with net debt now down 46% since its 2022 peak.
Stronger like-for-like growth of 3.4% in the six-week Christmas period to 4 January was led by solid growth in online orders and a 17.4% rise in sales for Morrisons’ premium range, The Best.
Over one million customers participated in the mult’s Disney promotion during the period.
“We had a good Christmas in 2025, providing a solid foundation for the first quarter,” Baitiéh added. “As we enter 2026, the grocery market remains competitive and we are committed to our focus on delivering good value and keeping prices low for customers, announcing a further 2,500 price cuts at the start of January.”
No comments yet