Despite softer consumer demand in November, Morrison performed better during the Christmas period. Although the company has slashed prices of c.1,000 core products to remain competitive / improve customer perception, other players are also likely to follow suit. We expect increased pressure on the company’s profitability in the forecast years. We will be reducing earnings but maintain the stock recommendation.
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Weak November impacts Q4 performance
- Published:
09 Jan 2019 -
Author:
Nishant Choudhary -
Pages:
3
Despite softer consumer demand in November, Morrison performed better during the Christmas period. Although the company has slashed prices of c.1,000 core products to remain competitive / improve customer perception, other players are also likely to follow suit. We expect increased pressure on the company’s profitability in the forecast years. We will be reducing earnings but maintain the stock recommendation.