Morrisons picks former Carrefour France boss as its new chief RETAIL Morrisons has appointed former Carrefour France boss Rami Baitiéh to take over as the supermarket's new chief executive.
Morrisons loyalty scheme helps hike sales to £3.7bn Morrisons Morrisons has recorded a 0.9 per cent decline in group revenues, blaming a slowdown in sales across its petrol stations. During the quarter, its total sales excluding its fuel offering rose by 3.1 per cent to £3.7bn, and sales across its wholesale channel were also up 20 per cent. The former ‘Big Four’ grocery, which [...]
More than one thousand McColl’s jobs at risk under Morrisons’ plans MORRISONS' TAKEOVER Morrisons has announced that around 1,300 McColl’s workers are facing redundancy, as it prepares to shutter some loss-making stores. The supermarket, which rescued the ailing McColl’s from collapse earlier this year, has set out its plans for the convenience store business. Some 132 stores have been identified as having “no realistic prospect of achieving a [...]
Morrisons: Revenue creeps up as private equity-owned supermarket fights debt pile January 31, 2024 Earnings at private equity-owned Morrisons have laid largely flat for the year, according to an update by the supermarket. Revenues excluding fuel topped however £14.9bn in the 2022/23 financial year up just 2.9 per cent the year before. Like-for-like sales also only managed to climb 1.8 per cent. Additionally, full year EBITDA crawled up 6.5 [...]
Cost of living crunch sinks teeth into Morrisons profit September 28, 2022 Morrisons has posted sliding sales after the retailer was recently knocked out of the Big Four by discounter rival Aldi. In financial results for the 13 weeks to 31 July, the group posted like-for-like sales, excluding fuel, down 3.1 per cent on the comparable period a year ago. The supermarket pointed to “unprecedented inflationary pressures” [...]
Profiteering? Supermarkets to face Parliamentary grilling this week June 25, 2023 Supermarket bosses will be probed this week on whether or not they are profiteering from high prices. Lead figures from UK ‘Big four’ grocers, including Morrison’s boss David Potts, will face questions from MPs on Tuesday on red hot food and fuel prices, and when customers might see price falls. Sainsbury’s’ food commercial director, Tesco’s [...]
Morrisons’ private equity owner clears final regulatory hurdle for £7bn supermarket sweep June 9, 2022 The competition watchdog has given the green light to Morrisons’ private equity owner, meaning the deal has now cleared regulatory checks. The Competition and Markets Authority (CMA) had provisionally accepted Clayton, Dubilier & Rice’s offer to sell 87 petrol stations in order to address competition concerns. Now, the watchdog said it has accepted the undertakings [...]
Aldi and Morrisons to create thousands of jobs in run-up to Christmas October 6, 2023 Two supermarket giants Aldi and Morrisons have announced plans to recruit thousands of workers ahead of the busy festive season. Aldi is creating 3,000 permanent and temporary jobs, while Morrisons is looking for 3,500 extra staff to work in its stores, food manufacturing sites and logistics operations as both firms deal with expected increased demand [...]
Supermarkets behaving badly: Asda and Morrisons bosses back ‘transparent’ fuel pricing model June 27, 2023 Supermarkets bosses have been grilled by MPs on prices at the pump and agreed to consider entering into a fuel model which would give more transparency. The government has been mulling a scheme whereby petrol stations would have to share live prices in efforts to bring more price transparency for drivers – a similar system [...]
Morrisons mulls sale of warehouses and fisheries in £600m deal June 12, 2022 Morrisons’ private equity owner is scouting for a buyer for its estate of warehouses, fisheries and food manufacturing hubs in a sale worth more than £600m. The New York private equity titan is mulling a sale-and-leaseback transaction in an endeavour to power returns from its £7bn takeover of the British grocer, according to a report [...]