Morrisons news

The UK Takeover Panel has ruled that Clayton, Dubilier & Rice, the private equity group that launched the original bid for Morrisons, should have additional time to consider whether to launch an improved bid for the retailer following an increase in the offer from Fortress Investment Group which has been recommended to shareholders. Last Friday, Fortress improved its offer for the business thr...

Morrisons is reported to be piloting technology that would offer customers a checkout free experience. Amazon style tech being trialled According to The Mail on Sunday, the retailer has partnered with US technology provider AiFi which uses cameras to track items put in customers’ baskets. They are then charged as they leave the store through an app – a system similar to Amazon’s Just Walk...

The GB grocery market declined by 5.1% on 2020 in the 12 weeks to July 11th, according to the latest results from Kantar as the whole period annualised against pandemic-elevated comparatives. Despite this impact and a less-than-expected boost from Euro 2020, sales remained £3bn higher than the same period of 2019, Limited boost from Euro 2020 With many shoppers taking advantage of newfound ...

Just two weeks after rejecting a £5.5 bn takeover approach from US private equity group Clayton, Dubilier & Rice, the Board of Morrisons has unanimously recommended that its shareholders accept a £6.3 bn takeover offer from a consortium led by private equity firm Fortress. The new offer is pitched 42% above the price of Morrisons shares before news of CD&R’s offer broke and will involve the ...

In its new UK channel forecasts report, IGD maps out its expectations of how the food and grocery sector will move on from last year’s exceptional expansion. IGD predicts that last year’s 8.5% growth will slow to 1.7% in 2021 and then to 0.9% in 2022, as shoppers economise and the foodservice sector reclaims sales. This sharp decline will be followed by a period of modest recovery, that wil...

The GB market declined 1.6% in the 12 weeks to 13 June, according to the latest results from Kantar. Market growth declines but sales remain elevated This period saw restrictions ease further and the continuation of the vaccine programme rollout. However, as there has not been a complete return to normality this has created a mixed set of results. Despite the market declining, sales remaine...

Morrisons has rejected a takeover proposal from US private equity group Clayton, Dubilier & Rice, saying that it undervalues the business and its future prospects. Bid undervalues business and prospects A statement was issued in response to reports from Sky News and the Financial Times that CD&R was considering a possible cash offer for the UK fourth largest retailer. In its response, Morri...

The GB market declined 0.4% in the 12 weeks to 16 May, according to the latest results from Kantar. The decline reflects the tough comparisons against record-breaking figures from 2020 and the beginning of the pandemic. Reduced restrictions and the roll out of the vaccination programme has further impacted sales, with shoppers starting to return to their pre-pandemic buying habits. Despite thi...

Ramadan is a month-long celebration where Muslims around the world abstain from eating or drinking from dawn to sunset. Traditionally they engage in breaking fast with family and friends. Eid al-Fitr is the celebration to mark the end of the month. This is the second year Ramadan celebrations have taken place under the shadow of the pandemic. Retailers and brands were more prepared this year a...

Morrisons has revealed robust trading for the Q1 period, the first retailer to release trade figures that annualise against the start of the pandemic. The retailer has also announced a number of initiatives to sustain the momentum including a new loyalty scheme. A robust quarter Group LFL sales for the 14 weeks to May 9 th were up 2.7%. Total sales ex fuel were up 3.3% including a 0.5% con...