Morrisons recorded a strong performance in its full-year results for the 52 weeks ending on 26 October 2025, boosted by a successful Christmas trading period.

The retailer’s like-for-like sales increased by 2.4% in Q4 and 2.8% for the full year, which represents twelve consecutive quarters of sales growth.

Morrisons saw its full-year revenue go up by 3.2% to £15.8bn, while its full-year underlying EBITDA remained flat year-over-year at £835m.

Jo Goff, CFO of Morrisons said: “We worked hard during the year to offset the significant and unexpected cost headwinds arising from the government’s 2024 budget and other inflationary pressures, with our cost reduction programme delivering savings of £233 million.

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“We expect to exceed our £1bn savings target by the end of FY26. Morrisons has built a strong track record of deleveraging, and net debt is now down 46% since 2022.”

The retailer reported a strong performance in the online channel with double-digit like-for-like growth in the year, which boosted its market share.

The number of Morrisons More Card active users increased by 11% to a record 8m during the trading period.

During the Christmas period, group like-for-like sales increased by 3.4% in the six weeks to 4 January 2026 and the premium label Best range saw its sales go up by 17.4%.