Blog: Day out in the City for Morrisons
Petah Marian | 9 September 2010
It's been a big day for Morrisons, with new CEO Dalton Philips impressing analysts in his City début.
The UK's fourth-largest retailer announced a raft of new initiatives alongside its strong H1 results, announcing plans to trial convenience stores and investigate moving online, as well as rationalising its range, experimenting with a number of instore productivity, range and layout improvements.
Philips also said that Morrisons incurs around GBP800m in indirect costs each year and that he plans to begin challenging spend in buying, particularly in costs around building, shelving and equipment.
And all of this is without even touching on Morrisons' position as the second-largest food manufacturer in the UK.
Philips' role at Canadian retailer Loblaw, with its well-regarded private label President's Choice, will inevitably mean that own-labels will become a focus.
I'll be exploring what the future looks like for Morrisons in more detail in tomorrow's Talking shop column
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