Morrisons faces fresh blow as budget supermarket to push it out of UK’s big 5 | UK | News
This week, when new supermarket figures are released, Morrison can be hit with another blow. The store may lose its place as the country’s fifth supermarket to Lidl.
Supermarket would come after the first four formed by Tesco, Sinsbury’s and ASDA. New figures will be released tomorrow (Tuesday, August 19) by the Industrial Research Group WorldPenel and does not look good for Morrison.
It comes after Morrison’s cutting more than 3,600 jobs and closing 17 stores at the beginning of this month. After the decrease in income, the last financial year reduced its labor force from 104.819 to 101.144.
The chain also confirmed that it will close more than 50 of the in -store cafes and a number of Morrison’s daily markets throughout England. The retailer will now make profits for the first time since the 2021 private capital inheritance, and for the year ending on October 27, 2024, £ 2.1 billion before the tax before the tax and compared to losses of £ 919 million and £ 1.3 billion the previous year.
As reported Retail newspaperA large part of this profit was produced from £ 2.6 billion, from the sale of gasoline lawyers to the engine fuel group.
While the Forekourt sale was most of the profit recoil, Morrison’s underlying performance healed and the losses in ongoing operations rose from £ 1.09 billion to £ 538 million.
Chain increased by 3.9% in similar sales and increased by 4.2% in total sales.
“Against a challenging macro environment, inflation driving remains at the forefront of the minds of value customers. We have focused on price, promotions and meaningful loyalty awards to help our customers for the first half, with a consumer feeling.”
He bought it elsewhere, plans to make 350 business deductions in his head office. Sinsbury’s also announced 400 layoffs to simplify Tesco operations, while explaining 3,000 jobs and cafes closing.
