Morrisons to close stores - hundreds of jobs on the line

12 January 2016

morrisons Morrisons are to close seven of their shops, which means 700 jobs are under threat. This comes after the surprising news that Morrisons had seen decent sales over Christmas, with shares in the supermarket going up 12% - the first positive figures for the company in yonks.

While most analysts expected Morrisons' like-for-like sales to drop, they in fact, rose. No complaining about 'unusually warm weather' here.

David Potts, boss at Morrisons, says: "While there is of course much more to do, we are making important progress in improving all aspects of the shopping trip, and our customers tell us they are pleased with the changes."

However, there's still these store closures and people losing their jobs.

Seven medium-sized supermarkets are going to close, as well as the 11 shops that closed their doors last year. Morrisons are consulting with 680 staff over redundancies.

Potts continued: "I'm pleased with the performance over Christmas, but Christmas is just one trading period and we go on from there. This turnaround will not be in a straight line as we continue to learn about the business and how we might improve it. Every week in retail is a battle."

One of the things that have been good for the supermarket, was the reworking of the booze department, as well as their Nutmeg clothing range, which should be in all stores in 2016. Over Christmas, fruit and vegetables, fish and meat sold well. Could things finally be turning around for Morrisons?

TOPICS:   High Street News   Supermarket

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