Over the past year, Morrisons said it made ‘significant investments in price, service and its Market Street food offer to improve the shopping trip’. They have also received strong sales and feedback from the conversion of the first ten McColl’s to Morrisons Daily with a further 20 converted in the year. During 2020 it is expected that 240 McColl’s stores will transition to Morrisons wholesale supply which is on track for £1bn annualised sales target.
Over the last two weeks the grocer has reported significant stocking up and sales pull-forward as customers plan for the impact of COVID-19. In response to the coronavirus, Morrisons has announced that it will be putting in place some immediate initiatives to help our key stakeholders, including:
- Pay guarantee for sick and affected colleagues and more flexibility around shifts and annual leave
- Expanding online delivery capability to pick from more than 100 stores
- Immediate payments for small suppliers. Read more here.
Andrew Higginson, Chair, and David Potts, Chief Executive, said:
“We are currently facing unprecedented challenges and uncertainty dealing with COVID-19. Looking after our colleagues and customers is our priority, ensuring that we have a clean, safe place to shop and work.”
At Morrisons, we have a strong, experienced, and above all, determined team of the best food makers and shopkeepers in Britain. We promise to work as hard as we can for customers, suppliers, and all stakeholders to keep our shops operating as smoothly as possible. Thank you to all our colleagues for your incredible efforts so far.”
Morrisons was expecting to announce a dividend with the full year results due to a strong cash flow and fourth consecutive year of profit, however, with the current situation around COVID-19 the decision has been made to postpone the dividend to allow for maximum future flexibility.