Supermarkets with their own food manufacturing facilities have a better chance of price war survival, city analysts have claimed, after the boss of Waitrose warned Britain’s biggest retailers would be wiped out by continued price cutting.
Morrisons could face a shareholders’ revolt at its annual general meeting (agm) later this week over its decision to pay former ceo Dalton Philips a £1M bonus, after a share advisory group slammed the decision “as severely out of line”.
Morrisons, Iglo Group, Leatherhead Food Research and Assured Food Standards were all left searching for new bosses this month as the current incumbents announced their decisions to step away from their roles.
The impact of the supermarket price war on food and drink manufacturers, politics and the prospect of a food tax all featured in Paul Wilkinson’s summary of 2014 at the Business Leaders’ Forum in central London.
Morrisons is the UK’s “most undernourished” supermarket, according to a leading analyst commenting on the retailer’s Christmas trading statement, in which it unveiled the departure of ceo Dalton Philips.
Morrisons’ trading remains a worry, as the retailer enters a critical quarter in a currently “un-investable” British retail sector, warns City analyst Shore Capital, ahead of the firm’s third-quarter results to be posted this week.