Morrisons cuts over 3,600 jobs as profit passes £2bn Retail Morrisons cut more than 3,600 jobs as it returned to profit for the first time since a private equity-backed takeover in 2021. The Bradford-headquartered supermarket giant has posted a pre-tax profit of £2.1bn for the 12 months to 27 October, 2024, new accounts filed with Companies House have revealed. The profit comes after Morrisons made [...]
Morrisons taps Google’s Gemini AI to solve the supermarket scavenger hunt Retail Morrisons has rolled out a generative AI-powered tool, backed by Google Cloud and Gemini, that helps customers find products in store, part of its ongoing digital revamp and data infrastructure overhaul, City AM can reveal. The feature allows users to type in queries for items, ranging from ‘tahini’ to ‘that tomato puree in a tube’, [...]
Morrisons boosts sales amid looming ‘trolley wars’ Retail Supermarket giant Morrisons has posted an increase in sales as it works to offload debt and compete in an ever-tougher sector. Like-for-like sales rose 3.9 per cent in the second quarter of the year, while total sales grew 4.2 per cent to £3.9bn. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) increased 7.2 per [...]
Tesco shareholders eye returns as ‘awful April’ bill hikes set to hit profit June 8, 2025 Tesco shareholders will be watching closely for signs that it is managing to fend off competition as the supermarket price war heats up and “awful April” bill hikes eat into household income. The UK’s biggest supermarket chain will unveil its financial results for the first three months of its financial year on Thursday. Tesco recently [...]
Grocery inflation jumps to highest level in more than a year May 28, 2025 Grocery price inflation shot up to 4.1 per cent in May, driven by chocolate and suncare products in the hottest start to the month on record. The rise follows a 3.8 per cent jump in April and a 1.8 per cent rise in March, according to Kantar. “This latest jump in grocery price inflation takes [...]
Competition intensifies to buy UK supermarket stores despite uncertainty May 26, 2025 Real estate investors are increasingly competing to snap up UK supermarkets as a lack of new locations and slow planning processes weigh on developments. Grocery properties are “proving to be one of the most resilient and attractive investment sectors”, according to research by Colliers. Experts at the real estate firm said international and UK investors [...]
Tesco and Waitrose back King’s challenge to tackle hunger issues May 18, 2025 Four UK supermarkets are launching a joint campaign to tackle hunger, following a challenge from the King. Tesco, Sainsbury’s, Morrisons and Waitrose will take part in the Let’s Make A Meal Of It campaign, which encourages customers to donate to charity FareShare either online or by rounding up their bills in store. The campaign is [...]
Morrisons looks to save £1bn as sales rise ahead of stores shake-up March 26, 2025 Morrisons has announced an uptick in sales amid a wide-ranging store shake-up plan which will see hundreds of jobs losses. Group like-for-like sales rose 2.1 per cent in the 13 weeks ended 26 January while total sales increased by 2.4 per cent to £4bn over the same period. The Yorkshire-headquartered grocer said it had made [...]
Morrisons to cut hundreds of jobs and close cafes in huge shake-up March 24, 2025 Supermarket giant Morrisons has put 365 jobs at risk after it revealed plans to close more than 50 of its cafes. The Yorkshire-headquartered chain said 52 of its cafes, 17 convenience stores and dozens of meat and fish counters at its shops are slated for closure. Morrisons said the closures are part of a “wide-ranging” [...]
Supermarket sales rise, but Asda continues to struggle March 4, 2025 Sales at UK supermarkets rose above inflation in February as Brits looked for cost-effective ways to treat themselves. Take-home sales at the grocers rose by 3.6 per cent over the four weeks to 23 February, while prices rose 3.3 per cent, according to Kantar. However, the headline figure masked a gulf between the performance of [...]