Morrisons has revealed its sales and profits fell last year even as it put prices up, blaming the slide on shoppers becoming “increasingly pessimistic” amid the rising cost of living, political uncertainty and higher costs.
The retailer, which lost its spot at the UK’s fourth largest supermarket to Aldi last year, said underlying profits fell 15% to £828m in the year ending 30 October, as sales at established stores decreased by 4.2%.
