Ex-Asda bosses Archie Norman and Allan Leighton linked to Morrisons chairman role July 27, 2014 Former Asda bosses Archie Norman and Allan Leighton are said to be in the running to become the new chairman of troubled supermarket chain Morrisons. Norman and Leighton were credited with reversing Asda’s fortunes in the 1990s and are both seen as plausible candidates to help revive the chain, which has been losing market share [...]
Morrisons hands over Kiddicare to private equity group Endless July 14, 2014 Supermarket chain Morrisons confirmed yesterday it has sold its Kiddicare business to private equity group Endless Capital for £2m. The Yorkshire-based grocer bought the online baby products retailer in 2011 for £70m as part of its bid to build its online presence. However, the company announced in March that it had taken a £163m writedown [...]
Morrisons’ sale of floundering Kiddicare could come this week July 9, 2014 Morrisons is said to be on the brink of a deal to sell struggling maternity wear outlet Kiddicare to turnaround investor Endless. The likely sale, which has not yet been formalised, was reported by Sky News yesterday with the suggestion that an announcement could come as soon as the end of this week. Kiddicare was [...]
Morrisons and Tesco lose grip on market share and sales July 1, 2014 Morrisons and Tesco have both suffered another heavy fall in sales and market share in the last 12 weeks despite efforts to slash prices and win customers back into their stores. Data released yesterday from Kantar Worldpanel showed that overall grocery market grew by 2.8 per cent year-on-year in the 12 weeks to 22 June, [...]
Ocado earnings jump 79pc after Morrisons tie-up July 1, 2014 Online grocer Ocado has reported a rise in gross sales of 15.6 per cent for the 24 weeks ended 18 May, broadly in line with what had been expected. Analysts at Deutsche Bank had forecast that Ocado would report that gross retail sales in the second quarter grew by 15.3 per cent, compared to 18 [...]
Morrisons warns of discounters’ growing threat June 26, 2014 MORRISONS boss Dalton Philips warned yesterday that discounters could grow to as much as 25 per cent of the grocery market if supermarkets fail to “face the brutal reality” of the changes taking place and fight back. Speaking at the British Retail Consortium’s annual symposium, Philips said the threat posed to the UK’s big four [...]
Morrisons ramps up assault on rival supermarkets after slashing more prices June 23, 2014 Morrisons has launched a fresh round of price cuts today as the troubled supermarket group steps up its efforts to win back shoppers defecting to cheaper rivals. Britain’s fourth-largest grocer will cut the price of a further 135 grocery and household products today by an average 14 per cent. “These are permanent price cuts, not [...]
FTSE 100: Shire and Morrison help index end on a high note June 17, 2014 Bid speculation surrounding pharma giant Shire, proposed cost savings at supermarket operator Wm Morrison and a strong update from Premier Inn-owner Whitbread yesterday helped lift the FTSE 100 index slightly. The bluechip index closed up 12.13 points, or 0.2 per cent, at 6,766.77. Shire jumped 3.5 per cent to 3,660p, providing the biggest boost for [...]
After share price crash Asos warns on profits and investors slam Morrisons June 5, 2014 SOME of Britain’s biggest retailers were left reeling yesterday after a profits warning from Asos spooked investors and supermarket bosses came under a fierce verbal attack from angry shareholders. Asos shares crashed 31 per cent, wiping £1.2bn off its market value, after the online fashion retailer warned that a strong pound and a rise in [...]
Morrisons insists its price cuts will win back custom May 8, 2014 MORRISONS chief executive Dalton Philips insisted yesterday that its price-cutting plan will win over customers defecting to discount rivals despite the decline in like-for-like sales worsening in the first quarter of the year. Total sales excluding fuel fell 4.2 per cent in the 13 weeks to 4 May while like-for-like sales slumped 7.1 per cent, [...]