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LON100:MRW, Feb 22, 10:07 UTC

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Wednesday, February 19


News

Morrisons to sell only free-range eggs in stores

MRW

Morrisons has ended the sale of caged eggs, as it goes entirely free-range across its stores. The retailer, which sells more than 10 million eggs a week, said it has moved to a fully free-range supply five years ahead of previous plans. The supermarket chain is the first of the big four supermarkets to start using only free-range eggs, with Sainsbury’s set to stock 100% free-range eggs from April. Morrisons said the commitment will mean that all of its eggs will come from hens that have outdoor access for at least eight hours each day, as well as nest boxes.

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Morrisons becomes first major supermarket to sell only free-range eggs

MRW

Morrisons has become the first major supermarket to end the sale of caged eggs, as it goes full free-range across its stores. The retailer, which sells over 10 million eggs a week, said it has moved to a fully free-range supply five years ahead of previous plans. “From today, all our eggs will come from free-range hens that are able to roam freely outdoors – typically during daylight hours – and then return to nest boxes in the evening.”. Dr Tracey Jones, director of food business at Compassion in World Farming, said: “It’s great to see Morrisons achieving their commitment to be 100% free range on shell eggs ahead of their target.

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Thursday, January 23


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Morrisons to axe around 3,000 manager roles in major staff restructuring

MRW

Morrisons to axe around 3,000 manager roles in major staff restructuring. Morrisons has confirmed plans to axe around 3,000 managerial roles across its stores as part of a restructure which will see it create more shop floor jobs. The supermarket said it will have 4,000 more employees as part of plans which will see the creation of 7,000 new hourly-paid roles. “Whilst there will be a short period of uncertainty for some managers affected by these proposals, we will be supporting them through this process and there are jobs available for everybody who wants to continue to work at Morrisons.

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UK's Morrisons to create 4,000 store jobs, cut management roles

MRW

SECTIONS. Home. World. Markets. Business. Politics. Technology. U.S. UK's Morrisons to create 4,000 store jobs, cut management roles. (Reuters) - Morrisons (MRW.L), Britain's No. 4 supermarket group, plans to create over 4,000 store jobs, while reducing management roles, it said on Thursday. The Bradford, northern England-based grocer did not say how many manager roles would go but said jobs would be available for all who wanted to continue working for Morrisons. Jobs created would include skilled butchers, bakers, fishmongers and other fresh food specialists. Download the app to read more Reuters News.

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Wednesday, January 08


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Here’s what I’d do about the fallen Sainsbury’s and Morrisons share prices

MRW SBRY

Here’s what I’d do about the fallen Sainsbury’s and Morrisons share prices. It doesn’t look like the FTSE 100‘s supermarkets have had a particularly good Christmas, even if economic optimism might have brightened a bit as a result of the election. Aldi, meanwhile, saw its sales in the four weeks to Christmas climb by 7.9%, to top £1bn for the first time, and is aiming to open more than 300 new stores by 2025 for a total of 1,200. One of Sainsbury’s key targets was to be more competitive on price, which is pretty much unavoidable in these days of super-low prices from the interlopers. But it does tend to show that Sainsbury’s previous positioning as a bit upmarket is no longer viable, and I’m really not seeing any significant differentiation these days. While this update isn’t too bad (if perhaps not the triumph that Coupe seems to see), flat sales coupled with squeezed margins are leading analysts to forecast a 13% fall in EPS for the year to March. Since a peak of over 290p back in February 2019, Sainsbury shares have lost 22% of their value.

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Tuesday, January 07


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FTSE 100 movers: Morrisons gains after update; Rentokil hit by downgrade

MRW RTO

FTSE 100 movers: Morrisons gains after update; Rentokil hit by downgrade. (Sharecast News) - London's FTSE 100 was flat at 7,576.48 in afternoon trade on Tuesday as investors shrugged off Middle East tensions.Supermarket group Morrisons was in the green after it reported a fall in like-for-like sales for the first 22 weeks of the second half in challenging conditions but said full-year results would remain in the range of forecasts. Total sales were 1.8% lower excluding fuel and down 2.9% including fuel.NMC Health was in the red a day after the UAE-based private healthcare operator said an independent review would initially focus on confirmation of its cash balances as at 15 December.Rentokil Initial was weaker after Credit Suisse downgraded the stock to 'neutral' from 'outperform', cutting the price target to 450p from 460p.The bank pointed to stable growth but FX headwinds, slower margin accretion and diminishing US pest opportunities. "Given the combination of falling forecasts, slowing group margin growth, declining US M&A opportunity set and a PE of 29.2x we downgrade to neutral," CS said.Standard Life Aberdeen was also knocked lower by a broker downgrade as JPMorgan cut its rating to 'neutral' from 'overweight', while SSE was hit by a downgrade to 'neutral' from 'buy' at Goldman Sachs.Rolls-Royce was trading lower even after saying that its car sales last year surged 25% to a record 5,152, driven by worldwide demand for its Cullinan SUV.

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UK supermarkets suffer worst Christmas since 2014 with Morrisons the laggard

MRW

LONDON (Reuters) - Morrisons (MRW.L) was the big loser as Britain's major food retailers endured their worst Christmas since 2014, hurt by intense competition and sustained consumer uncertainty which deterred shoppers from splashing out. Industry data from market researchers Nielsen and Kantar showed all of Britain's big four supermarket groups - market leader Tesco (TSCO.L), Sainsbury's (SBRY.L), Walmart (WMT.N) owned Asda and Morrisons (MRW.L) - suffered sales declines in the 12 weeks to the end of December and continued to lose market share to German-owned discounters Aldi and Lidl. "There was no sign of the post-election rush many had hoped for in the final weeks before Christmas, with shoppers carefully watching their budgets," said Fraser McKevitt, head of retail and consumer insight at Kantar. Morrisons' own update showed its underlying sales, excluding fuel and sales tax, fell 1.7% in the 22 weeks to Jan. 5 - a period that included the group's third quarter and the nine-week Christmas trading period.

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Morrisons sees festive sales slide amid shopper uncertainty

MRW

Supermarket Morrisons has posted falling sales over the crucial festive season amid “unusually challenging” trading and shopper uncertainty. The group said: “Throughout the period, trading conditions remained challenging and the customer uncertainty of the last year was sustained.”. The group added that the fuel market was also “highly competitive”, with group like-for-like sales including fuel down by 2.8%. While Morrisons did not provide specific trading figures for the Christmas period, experts at Barclays estimated a 2.4% drop in retail same-store sales for the most recent nine weeks. The Kantar data also revealed Morrisons lost market share, down to 10.3% from 10.6% a year ago. But Morrisons said full-year profits remained on track with forecasts despite the Christmas sales disappointment.

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TOP NEWS: Morrisons Sales Fall On "Challenging"...

MRW

The company said: "We managed costs well throughout the period, offsetting some of the impact on like-for-like sales of the challenging trading conditions and continued uncertainty amongst customers." Although tight-lipped on its trading over the festive period alone, Morrisons said its 'Free From' brand, which offers gluten and dairy free goods, had a 34% sales rise over the Christmas and New Year period. Chief Executive David Potts added: "It was encouraging that during an unusually challenging period for sales, our execution was strong and our profitability robust, demonstrating the broad-based progress we have made during the turnaround. "This was again down to the hard work of Morrisons exceptional team of food makers and shopkeepers. As always, we will take some learnings into the new year, and look forward to 2020 with a strong plan and solid foundations on which to continue to grow." Morrisons said: "Berkeley will pay GBP85 million in stages over the years of the project, and will build a new Morrisons supermarket and convenience store on the site at a cost to Berkeley of around GBP35 million."

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Bradford-based Morrisons faced challenging trading conditions in run up to Christmas

MRW

THE Bradford-based supermarket chain Morrisons today revealed that it faced challenging trading conditions in the run up to Christmas. For the 22 weeks to January 5, group like-for-like (LFL) sales excluding fuel were down 1.7 per cent. Our basket of key Christmas items was once again very competitive, with most prices the same as or lower than last year. In fuel, our business was affected by a highly promotional market." The statement added: "In wholesale we were pleased to grow sales with most of our customers, but overall LFL growth was impacted by the lower total sales at McColl's, as previously reported by McColl's for the period up to 24 November. Sales at the first ten conversions from McColl's to Morrisons Daily convenience stores are strong, and together we plan to extend the trial to another c.20 stores during January and February to further tailor and test the proposition as we begin to transition McColl's remaining ex-Co-op stores to Morrisons wholesale supply." "Following an extensive tender process, we recently sold our Camden store and eight acre surrounding site to Berkeley Group for a total consideration of £120m. Berkeley will pay £85m in stages over the years of the project, and will build a new Morrisons supermarket and convenience store on the site at a cost to Berkeley of around £35m." "Also during the period, we opened four new stores (including two replacements), closed four underperforming stores, and launched another 25 Fresh Look stores bringing the total to 44 this year. At Bolsover, we also passed the milestone of 1,000 new, local products, which we have sourced from 27 local food maker events across Britain in just the last three years." The trading statement continued: "Morrisons quality was once again widely recognised.

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