Morrisons has hit back at claims from its former chairman Sir Ken Morrison that boss Dalton Philips’ strategy for the recovery of the business was “bullshit”.
Morrisons’ chairman Sir Ian Gibson is to step down, the supermarket chain has announced, a month after Roger Owen, a former director of the business, had called for his resignation.
Sir Ken Morrison, the outspoken former chairman of Morrisons, has launched a stinging attack on the retailer’s boss Dalton Philips, describing his strategy for the recovery of the troubled business as “bullshit”.
How will your company fare in 2014 in areas such as filling skills gaps, handling rising costs and profit growth? Now’s your chance to have your say and find out what your peers think.
Morrisons has reported first quarter like-for-like sales down by 7.1% for the 13 weeks to May 4, after what City analyst Shore Capital described as “dire trading”.
Morrisons’ appalling results and the associated announcement last month by the retailer’s boss Dalton Philips that he planned to sell off a large slice of its estate to raise funds towards the £1bn earmarked for price cuts sent shivers throughout the...
Morrisons’ £176M loss for the year to February 2 - the latest in a series of lacklustre financial reports from the UK’s major supermarkets - has focused attention on Britain’s changing retail landscape.
A supermarket price war is likely to follow Morrisons’ pledge to cut its prices, in a bid to combat discounters Aldi and Lidl, after the retailer posted a loss of £176M last week, according to leading analysts.
Morrisons’ outlook statement, accompanying its full-year results posted yesterday (March 13), was “truly awful”, according to leading City analyst Panmure Gordon.
Morrisons has reported a £176M loss in full-year results to February 2, compared with a previous profit of £879M, as the supermarket revealed plans to slash costs and lower prices in a bid to battle the discounters.
Morrisons has received a “red alert” from leading City analyst Shore Capital, ahead of its full-year results to the end of January 2014, to be posted tomorrow (March 13).
Morrisons and Tesco were “the clear laggards” among the four big supermarkets, while discounters and premium sellers continued to do well, according to City analyst Shore Capital, commenting on recent Nielsen market share data.
Morrisons has refused to confirm or deny reports that George Dymond, the man recruited to head its online grocery service, has resigned just weeks after starting his new role.
UK online sales of food and groceries are set to more than double in value to reach £14.6bn by 2018, while Morrisons recently unveiled plans to launch online deliveries next month.
Morrisons’ half-year results delivered another disappointing read, concluded Shore Capital, which nevertheless upgraded its share advice from ‘sell’ to ‘hold’.
Morrisons’ boss Dalton Philips said the supermarket’s growth would come from expansion of its convenience and online businesses, in a statement accompanying the retailer’s half-year results posted yesterday (September 12).
Better banana quality and lower costs are the driving factors behind Morrisons’ acquisition of its first banana ripening factory, which will create 80 new jobs in Boston, Lincolnshire, says the retailer.
Morrisons’ boss Dalton Philips has claimed his current strategy will catapult Britain’s fourth-largest retailer into a position to directly challenge larger rivals Tesco, Sainsbury and Asda by 2015.
Morrisons’ suppliers will probably have to cover some of the huge costs of changing packaging labels on up to 10,000 food and drink items over the next 18 months, it has emerged.
Supermarket Morrisons has agreed a partnership with the online distribution business Ocado – including the acquisition of its distribution centre – in a deal that will see deliveries to customers start by January 2014.
Online grocery retailer Ocado is “playing with fire” as it negotiates a deal with Morrisons, which is eyeing a late entry into the online market, analysts have warned.
The UK’s fourth biggest supermarket Morrisons has “lost touch with its core customers”, claimed one leading city analyst, after the retailer reported total sales down by 0.5% over the six weeks to December 30 2012.
Morrisons appears to be upping its game after its “very disappointing” third quarter, according to Shore Capital analysts Clive Black and Darren Shirley.
Food inflation will be “well on its way to 4%” by Christmas, and manufacturers need to prepare to put up their prices – with Morrisons particularly in “a tricky position”, warn analysts at Shore Capital.
Morrisons has launched a foundation degree in supermarket operations, which it will be running with the Logistics Institute at Hull University Business School.
Pensions remain “the biggest strategic issue for the food industry”, experts suggested, following the launch by the government of auto-enrolment pensions today (October 1).
Unicorns, Premier Foods, and Morrisons are just three of the topics to feature in our list of the seven most popular food and drink manufacturing articles published on FoodManufacture.co.uk in September.
Waitrose got more than it bargained for when it launched a social media campaign inviting consumers to reply to its tweet: “I shop at Waitrose because …” The response varied from the cutting to the down-right hilarious.
Morrisons’ new fish processing plant in Grimsby began operations today (September 3) − five months after work began on converting a disused factory at Europa Park.
Asda’s acquisition of Netto stores will prove a key factor in Morrisons’ announcement of difficult first-half trading for 2012/2013, when it reports interim results on September 6, predicts Shore Capital analysts Clive Black and Darren Shirley.
Cheese producer Wyke Farms has complained of “broken promises” after Morrisons cancelled a meeting due to take place today (August 28) to discuss the delisting of the Somerset family business.
A family cheese maker’s David-and-Goliath struggle to fight its delisting by Morrisons gathered pace this week as thousands of shoppers supported its Facebook campaign.
