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Covid-19 takes a bite out of Morrisons’ profits

The supermarket chain was weighed down by pandemic-related costs in the first half of the year, but in-store and online sales charged forward
Covid-19 takes a bite out of Morrisons’ profits

Supermarket chain WM Morrison (MWR) benefitted from a surge in demand for its products during lockdown – like-for-like sales (excluding fuel and VAT) increased by 9 per cent year-on-year in the six months to 2 August. Growth accelerated during the second quarter, led by a 11 per cent like-for-like sales rise within the retail segment. 

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