Britain's Morrisons sees better second half after first dip in sales since 2016 [Reuters (UK)]
WM MORRISON UNSP/ADR (MRWSY)
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Source: Reuters
Britain's Morrisons sees better second half after first dip in sales since 2016 - Reuters 4 Min Read LONDON (Reuters) - Morrisons ( MRW.L ), the smallest of Britain’s big four supermarket groups, forecast improved sales in the second half of the year despite the threat of a no-deal Brexit, after quarterly sales fell for the first time since 2016. Shares in Morrisons, which trails market leader Tesco ( TSCO.L ), Sainsbury’s ( SBRY.L ) and Walmart’s ( WMT.N ) Asda in annual sales, were up 3.3% on the positive outlook. Its shares have fallen 25% over the past year. Chief Executive David Potts told reporters Morrisons was well prepared for all Brexit scenarios and said recent talk of the firm as a takeover target was “pure speculation”. Some analysts have suggested Morrisons could be a candidate for a takeover by an overseas private equity firm, given the fall in its share price and the weakness of the pound making deals cheaper. The company also said it is extending its partnersh
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