Press, News & Features

Latest News

Morrisons due to report full-year figures

The retail industry is poised for Morrison's full-year results, due to be announced on Thursday (14 March), nebusiness.co.uk reports.

Morrisons has attempted to claw back sales, which have been adversely affected after a disappointing Christmas.

Nevertheless, analysts are erring on the side of caution, predicting a drop in pre-tax earnings of about £888 million, compared with last year's £939 million.

However, the chain has taken some big steps to reverse its fortunes. Morrisons recently purchased almost fifty high street sites from beleaguered brands, Blockbuster and Jessops, thereby imminently increasing its presence in some key locations.

It is also making further steps into an online grocery facility - an area in which Morrisons currently lags far behind its rivals - and hopes that its ad campaign, featuring ever-popular Ant and Dec, might have had some positive impact on the figures.

Additionally, the supermarket has reportedly seen sales of its fresh meat rise, with many customers turning to its butcher's counter for the first time, in the wake of the recent horse meat scandal, according to yorkshirepost.co.uk.

It's a big week for the industry. French Connection and Home Retail Group - which owns Argos - are due to announce their annual figures also.

Cookies on this website
This website uses cookies to provide the best experience for visitors - in continuing to browse this site, you consent to their use.

Sign up to our updates
No spam - that's a promise!