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FreshDirect

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Online retail giant Amazon is said to be preparing to take on the well-established US food market with a major roll-out of its fresh grocery business, a move that could make other players sit up and take notice.

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Morrisons CEO Dalton Philips today (6 September) defended the UK retailer's "fresh format" stores and its policy on vouchers, two strategies brought into question in recent weeks.

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The announcement from Morrisons that CFO Richard Pennycook plans to leave the company will come as a blow for the UK retailer. Morrisons is trading behind the market and Pennycook's exit serves to focus attention on the strategic problems that management is currently grappling with. Katy Askew reports.

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The challenging economic conditions and low consumer confidence in the UK is "playing to our strengths", Morrisons chief executive Dalton Philips said today (8 September).

Morrisons this morning (13 March) reported an annual loss of GBP176m (US$293.6m), rounding off a challenging year for the UK's fourth-largest grocer.

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Morrisons CEO Dalton Philips has said the UK grocer's "strong fresh food proposition" will help it meet its target to have a profitable online business four years after its launch in January.

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Heavy up-front investment and consumer resistance to delivery fees are likely to constrain US online grocery growth in the coming years, according to global agency Fitch Ratings.

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Hain Celestial has acquired US natural and organic raw juice and bar company BluePrint.

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Morrisons has appointed a former Apple executive to lead its move into online food retail.

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FreshDirect has appointed founder and CFO Jason Ackerman as CEO of the US-based online grocer.

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The launch of a pilot online grocery retailing scheme by Wal-Mart Stores this week underlines the fact that so far this sector has been primarily the preserve of niche, specialist players. Ben Cooper examines whether Wal-Mart's entry has the potential to take online grocery shopping into the mainstream US market.

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US online grocer Peapod has expanded its Peapod by Stop & Shop service in Manhattan.

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Morrisons CEO Dalton Philips has claimed he believes none of the retailer's rivals in the UK have "cracked fresh food online" or "managed to create a significant point of difference".

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Morrisons, the UK's fourth-largest food retailer, has snapped up a stake in US online grocer FreshDirect.

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Morrisons has recorded a rise in annual profits but cautioned that 2011 will be challenging.