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Slowing sales growth hits Morrisons shares despite profit jump

Reuters  |  LONDON 

By James DaveyLONDON (Reuters) - British supermarket chain Morrisons reported slowing sales growth on Thursday, sending its shares down 5 percent despite rising profit and the CEO's assertion that its recovery is still on track. Presenting results that showed a seventh straight quarter of underlying sales growth, Chief Executive David Potts said it is making progress in its supermarkets and beyond.Morrisons, which is based in Bradford, northern England, is turning around the performance of its over 500 UK supermarkets while also trying to build a broader business by pursuing capital-light ...

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First Published: Thu, September 14 2017. 16:25 IST