Morrisons has recruited 200 new local food suppliers in the past year in a bid to cut the food miles of its products, citing research indicating up to 70% of consumers say they prefer to buy British food.
Morrisons has revealed a rise in sales and profits for the first half of this year in its interim results, released yesterday (September 14), as it sees results from its ‘Fix, rebuild and grow’ strategy.
Morrisons reported a 3.4% rise in group like-for-like sales, excluding fuel, in its first-quarter trading update, as chief executive David Potts again thanked the supermarket’s team of food makers and retailers.
Morrisons is “in much better shape” than it was last year, as it further exploits its manufacturing capacity, analysts say, ahead of its first-quarter results, due on May 4.
Morrisons has reported an 11.6% increase in underlying profit to £337M, in a financial statement which the late Sir Ken Morrison “would have been very happy to observe”, according to analyst Shore Capital.
Tributes have been paid to Sir Ken Morrison, who turned a small family grocery business into one of Britain’s biggest supermarkets, after his death at the age of 85.
The new one-hour grocery delivery service launched by Morrisons and Amazon will build the supermarket’s business as “a food maker and shopkeeper”, says its boss David Potts.
Morrisons can expect financial problems ahead caused by store closures, Brexit and the National Living Wage, HSBC Global Research predicted ahead of the retailer’s third-quarter trading update on November 3.
Morrisons is making progress towards strengthening its business and fulfilling six strategic priorities, claimed a financial statement accompanying the retailer’s first-half results, posted earlier this month.
Morrisons’ chief executive David Potts has thanked the retailer’s “food makers”, after the business reported rising like-for-like sales and profits in first-half results posted on September 15.
Morrisons’ role as a food manufacturer – supported by its vertically integrated supply chain – is a unique sales point, which should be communicated more effectively, according to analysts, after the retailer reported its second quarter of rising sales.
Morrisons has reported its second quarter of rising like-for-like (LFL) sales, in results covering the 13 weeks to May 1 and, again, highlighted its role as “a food maker”.
The business benefits of Morrisons’ food manufacturing capacity has divided industry commentators, after ceo David Potts highlighted the firm’s role as “food maker and shopkeeper” in full-year results last week.
Morrisons has revealed falling like-for-like sales and profit, in full-year results to the end of January, as ceo David Potts highlighted the retailer’s role as “a food maker”.
Morrisons has regained its listing on the exclusive FTSE 100 group of companies, after a boost to its share price arising from improved trading and the announcement of its partnership with online retailer Amazon.
Morrisons is to harness the power of its food manufacturing capability to cut prices even further, as it battles the limited range discounters Aldi and Lidl and the other big supermarkets, its boss David Potts has revealed.
Morrisons boss David Potts’s customer focus is paying off – with its food manufacturing capability playing a key role – but much more needs to be achieved if the business is to achieve its potential, according to city analyst Shore Capital.
Morrisons has posted like-for-like sales, excluding fuel, up by 0.2% for the nine weeks to January 3, in what one city analyst described as “a morale boost to sector sentiment”.
Morrisons’ appointment of Greene King ceo Rooney Anand to the retailer’s, now complete, non-executive team has been welcomed by City analyst Shore Capital.
Food manufacturing’s key contribution to Morrisons’ recovery was again highlighted by leading City analyst Shore Capital, following a meeting with the troubled retailer.
British consumers will fill Tesco with festive cheer this Christmas as it looks set to be the top choice among consumers for seasonal food and drink, according to e-commerce firm Webloyalty.
Morrisons sales continue to slide – with like-for-like sales, excluding fuel falling by 2.6%, blamed partly on a reduction in promotional vouchers – in third-quarter results posted this week.
Morrisons must sell off its manufacturing sites to be competitive after having already agreed to offload its convenience business, according a leading analyst.
Morrisons’ focus on fresh food, with its Market Street concept, has a key part to play in its six-point turnaround plan, according to leading analysts.
Morrisons’ 11% market share and poor past management makes it the “most vulnerable” of the big four supermarkets to acquisitions, a leading analyst has claimed.
Morrisons has responded to pressure and extended its support for beleaguered dairy farmers by announcing today (August 14) that it would be launching a premium ‘Milk for Farmers’ cheddar cheese brand.
A former Morrisons auditor has been jailed for eight years after leaking the personal data of 100,000 of the company’s employees in a revenge attack on the firm.
