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UK grocer Morrisons' sales fall worsens

Reuters - UK Focus

LONDON, May 7 (Reuters) - Morrisons, Britain's No. 4 grocer, on Thursday posted a deteriorating fall in underlying sales, further illustrating the tough turnaround task facing its new boss.

The Bradford, northern England, based group which trails market leader Tesco (Xetra: 852647 - news) , Wal-Mart's Asda and Sainsbury's in annual sales, said sales at stores open over a year, excluding fuel, fell 2.9 percent in the 13 weeks to May 3, the firm's fiscal first quarter.

That compares to analysts' forecasts of a decline of about 3 percent and a fall of 2.6 percent in the fourth quarter of Morrisons' 2014-15 year.

The update is the first presided over by Chief Executive David Potts, who succeeded the sacked Dalton Philips on March 16.

Morrisons said it anticipated that underlying profit before tax will be higher in the second half than the first. (Reporting by James Davey; Editing by Neil Maidment)