One of the big four supermarkets in the UK, they have approximately 500 stores across the UK.
In my opinion Morrisons lost their way when they bought Safeway. They tried to go big by buying a failing company. They have never recovered and are like a ship with a broken engine drifting listlessly across the ocean. I’m surprised no one has tried to buy them out. Might happen this year. It’s a shame as it used to be a decent company.
A little harsh on Morrisons so I thought I’d add this which might give a bit more info to re-evaluate your postion.
Morrisons reward scheme going online only.
I thought their loyalty scheme was flawed anyway, as it gave a voucher to spend in store from things earned outside the store. For me, at least, it didn’t encourage shopping at the supermarket, only buying fuel in the garage.
What’s hammering the price down at the moment?
Probably similar to other retailers this week announcing the costs of covid precautions Takings went massively up but so did overheads by more.
Similar to above post r.e. cost of covid out weighing profit.
The cost of covid (in store measures, sick leave etc) will never be recovered.
As for the increase in sales, I dare say as more and more outlets open with reduced lockdown measures peoples spending will diversify.
So whatever increase in sales has been seen may well be reversed or even undermined as people start hitting the bars, restaurants and other places for “special buys”.
Same could be said for Amazon’s record sales, however amazon are quite good at consolidating their position (and not spending big on covid measures) so probably not that bad for companies like them