Morrisons checks out of year with rise in sales

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The Independent Online

Supermarket chain Morrisons is expected to buck the trend of post- Christmas gloom this week when it reveals that sales over the period jumped by as much as 9 per cent.

Last week the group, run by chief executive Marc Bolland, said it would create 5,000 jobs in 2009, following similarly bullish statements from Sainsbury's and Tesco.

After woeful results from DSG, the electronics group which last week said sales had slumped by 10 per cent over Christmas, Kesa, which owns Comet , is expected to say that its revenue fell by as much as 9 per cent for the 10-week period to the start of January.

Shares in Kesa dipped by around 10 per cent last week ahead of the trading statement. Over the past 12 months, shares in Kesa have slumped from 232p to just 91.25p at Friday's close.

Meanwhile, in a busy week of results, cut-price pub chain JD Wetherspoon will reveal how it performed over Christmas, while ASOS, the online fashion retailer, is expected to reveal a strong trading performance.