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Wm Morrison Supermarkets (WMS) investor relations material
Wm Morrison Supermarkets Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved robust Q3 performance with 3.2% like-for-like sales growth, marking the fifteenth consecutive quarter of LFL growth.
Total sales reached £4.1 billion, with market share increasing year-over-year.
Growth was broad-based across Supermarkets, Online, Convenience, Pharmacy, and manufacturing segments.
Financial highlights
Group LFL sales up 3.2% compared to the same quarter last year.
Total sales for the quarter were £4.1 billion.
Delivered £53 million in cost savings in Q3, totaling £995 million since the start of the program.
Debt reduced by 46% since 2022, with no near-term maturities.
Outlook and guidance
A strong start to Q4, with preparations underway for Halloween and year-end trading.
Raised working capital improvement target to £750 million, reflecting ongoing confidence.
- EBITDA held steady at GBP 835 million as sales grew and debt fell despite major cost headwinds.WMS
Q4 2025 - Strong sales and EBITDA growth, reduced debt, and positive outlook despite cost pressures.WMS
Q4 2024 - Q2 delivered 4.1% like-for-like sales growth, 16% EBITDA growth, and 35% debt reduction.WMS
Q2 2024 - Sales, profit, and margins rose in Q3, with debt sharply reduced and strong Q4 momentum expected.WMS
Q3 2024 - Sales grew 2.4% to £4bn, EBITDA rose, and cost savings target increased to £1bn.WMS
Q1 2025 - Q2 2025 delivered 4.2% sales growth, 3.9% LFL gains, and raised cost-saving targets.WMS
Q2 2025 - Sales up 3% to £4.0bn, online leads, debt cut by £261m, cost headwinds persist.WMS
Q3 2025 - Like-for-like sales rose 2.8% and EBITDA increased 7%, with strong cost savings and online growth.WMS
Q1 2026 - Q2 delivered 2.2% like-for-like sales growth, higher EBITDA, and strong cash flow amid tough conditions.WMS
Q2 2026
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