MorrisonsAsda
Morrisons featured in our top food and drink manufacturing articles of November when the retailer announced “very disappointing” third quarter results on November 8 and the departure of its commercial director Richard Hodgson.
The retailer revealed like-for-like sales down by 2.1%, excluding fuel. Shore Capital analysts Clive Black and Darren Shirley described the results as “a very disappointing update”.
Black and Shirley added: “We are very worried about the trading performance of 'bog standard' Morrisons superstores and the productivity of an expanded and extended supply chain that is grappling with materially lower volumes.”