Q1 resulted in a sequential slow-down in lfl retail growth compared with the past few quarters. The new deal with Ocado is likely to save some bucks (in the near term) and enable Morrison to make new digital partners. However, it remains to be seen if Morrison is able to leverage this opportunity. We will trim our estimates slightly but maintain the stock recommendation.
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Softer sales growth in Q1 19
- Published:
15 May 2019 -
Author:
Nishant Choudhary -
Pages:
3
Q1 resulted in a sequential slow-down in lfl retail growth compared with the past few quarters. The new deal with Ocado is likely to save some bucks (in the near term) and enable Morrison to make new digital partners. However, it remains to be seen if Morrison is able to leverage this opportunity. We will trim our estimates slightly but maintain the stock recommendation.