The close of this week is expected to be a busy and exciting one for market commentators looking for signs of recession recovery from high-street retailers, as supermarket Morrison's releases Christmas sales figures. Two of the big four supermarkets, Tesco and Sainsbury's, have already reported figures, but Morrison's is expected to surpass both companies. However, Asda have yet to report sales figures for the festive period, so the number one spot could still be for the taking.
Sainsbury's reported a 4.2 per cent growth for the period, whilst Tesco is currently the front-runner with a 4.9 per cent same-store growth. However, expectations are high for Morrisons to achieve a 7 per cent increase for the festive period. This is based on two factors:
• Impressive past performance in the same period for the last two years
• The new direction the company has embarked upon since Marc Bolland took over as CEO
Bolland has recently left the company to work for rivals Marks & Spencer, leaving a question mark over who will head the company for the future. This hasn't affected sales, as the company is still benefitting from Bolland's successful business model, but uncertainty has meant that shares may be affected.
One thing is for certain, Morrisons is looking an excellent prospect for customers and food job hunters alike. Continued momentum in sales figures means more development and expansion; encompassing new product ranges, which requires more skilled workers in the field of food technology, and the opening of new stores which will create thousands of new food jobs.
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