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Morrisons has reported a "disappointing" performance over Christmas amid a "highly promotional market".
The grocer recorded a 2.5% fall in like-for-like sales over the six weeks to December 30, while total sales excluding fuel were down 0.9%.
The grocer said "hard-pressed consumers increasingly shopping to a budget", as well as vouchers issued by rival supermarkets, were to blame. It also cited its minimal exposure to the online and convenience sales channels as a reason for the fall in sales.
The performance suggests rival Tesco, which updates the City on Thursday, as well as Asda, may have gained shoppers from Morrisons, while Waitrose managing director...