STOCKS FOCUS: WM MORRISON

0 Comments | Sunday Herald, The, Dec 7, 2008

SUPERMARKET group Wm Morrison cited a strong performance by its Scottish stores as it posted impressive sales figures, and also announced that it had signed a provisional agreement - dependent on the completion of the Co-op's acquisition of Somerfield - to acquire 38 Co-op and Somerfield stores for GBP223.1 million.

The UK's fourth- largest grocer, currently using Top Gear's Richard Hammond in its Christmas TV advertising campaign, said that like-for-like sales excluding fuel increased 8.1per cent in the 13 weeks to November 2, ahead of City forecasts. Shares closed at 243.75p.

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