Blog: More of the same from Morrisons
Dean Best | 10 September 2009
It was more of the same today (10 September) from Morrisons, the UK's number four grocer.
The retailer has continued its steady sales growth and, although half-year earnings were boosted by property disposals and pensions, underlying profits were robust.
Marc Bolland continues to please investors with his success in luring more upmarket shoppers to his stores and with his strategy to, as he rather quirkily puts it, take Morrisons from "national to nationwide".
Still, you know what the press pack are like. With every quarter of robust like-for-like sales that rolls by, so the clamour for something different from Morrisons and Bolland grows.
So, will Morrisons finally go online? (That old chestnut)
"People really need to see Market Street before they understand what Morrisons is all about," Bolland flat-batted, again pointing to the retailer's in-store baker-butcher-and-fishmonger concept.
Will Morrisons expand further into non-food?
"Our positioning as the 'food specialist for everyone' really works for us. In non-food, we want to make the space we have work better for us," Bolland insisted, suggesting that we shouldn't expect Morrisons to sell reams and reams of LCD TVs.
A-ha! But what about the speculation linking you to the top job at Marks and Spencer, Mr Bolland? There is a lot of talk surrounding the likely man (or woman) to succeed Sir Stuart Rose ...
"I love Morrisons. This is a country that loves lists and loves bets but I love Morrisons and I'm happy where I am," the Dutchman said.
I think we'll be seeing Mr Bolland at Morrisons' results presentations for some time to come.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
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