UK: C-store hungry Morrisons buys Jessops stores
Morrisons wants "at least" 50 c-stores in network by end of financial year
Uk grocer Morrisons has snapped up seven stores owned by failed camera retailer Jessops as it looks to push further into the country's convenience channel.
Morrisons, the UK's fourth-largest grocer, is looking to build its fledgling M-Local store network. Rival retailers, particulary Tesco and Sainsbury's, own hundreds of convenience stores but Morrisons only opened its first M-Local in April 2011.
"Last year, we were testing the format. This year is all about accelerating our expansion," a Morrisons spokesperson said. The retailer wants to have "at least" 50 convenience stores by the end of its current financial year, which started today (4 February).
The spokesperson added: "We have a very different convenience format, with much more space for fresh food. We can offer consumers something different."
Four of the Jessops stores Morrisons has acquired are in London. The retailer went into administration last month after failing to withstand competition from online rivals and the growing use of cameras mon smartphones.
Reports in the UK have claimed Morrisons is among a number of food retailers interested in snapping up outlets from two other retailers that have recently moved into administration - music store chain HMV and film rental business Blockbuster. The Morrisons spokesperson declined to comment.
UK snacks firm New York Delhi has secured a listing with Australia's largest retailer Woolworths Ltd but the company insists it is aiming to grow without "selling out" to the large supermarket chains....
Morrisons, the UK's fourth-largest grocer, is to test new management structures in seven stores it plans to open later this year....
- Murray Goulburn's FY results - 7 things to learn
- Why Jet.com purchase could boost Wal-Mart online
- Interview, part 1: Emmi CEO Urs Riedener
- Nestle on China, candy, nutrition - analysis
- England child obesity plan should cheer industry
- Australia launches dairy sector probe
- Mondelez buys rest of Vietnam snacks business
- Tyson faces investor scrutiny on ethical issues
- Arla points to branded growth as group sales slide
- Nomad Foods touts progress as H1 results worsen