Morrisons’ interim results: past year’s challenges
Morrisons’ year in pictures
We look too, at the strategies the retailer has deployed to combat intensifying competition – particularly from discount stores Aldi and Lidl.
We report on potential legal issues for the business, analysts evaluations on its development and hires and fires.
The retailer came under criticism when it warned that profits were likely to be at the bottom of the range of expectations throughout the year, in January.
It came under further blame when it released its full-year financial results in March,
‘Truly awful’
Its full-year results were described as truly awful, in March, by City analyst Panmure Gordon.
It reported a loss of £176M for the year to February 2, compared with a profit of £879M in the previous year.
Its response was to slash costs by £1bn over three years and reinvest money in lower product prices.
