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Morrisons results - Introduction
Engagement with RTTT
Wm Morrison Supermarkets plc (Morrisons) has not had any constructive relationship with Race to the Top.
Company overview
Morrisons is the sixth largest grocery retailer in the UK based on reported turnover. At the beginning of 2003 it had a total of around 45,000 full- and part-time staff and had 119 supermarkets, with an average store size of about 3,300 m2. Its stores were mainly located in the North, and across Yorkshire and the Midlands, as well as two main distribution centres in Wakefield and Northwich. The company has a 6.3% market share. Profits in 2002-3 were £180 million on sales of £4.3 billion. On 9 January 2003, Morrisons announced an offer to purchase the entire issued share capital of Safeway, and this company is currently the only contender left in the running for Safeway with Competition Commission clearance.
Morrisons is unusual among the larger UK grocery retailers in that some of its operations are vertically integrated. Its wholly-owned subsidiary, Wm Morrison Produce Ltd, buys, packs and distributes all the fruit and vegetables sold in Morrisons stores. Its other wholly-owned subsidiaries include Farmers Boy Ltd, which manufactures and supplies fresh food products, and Neerock Ltd, which processes and supplies fresh meat to its butchers.
Morrisons has traditionally had very little to do with the ‘corporate responsibility’ sector. The company’s stated intention to make savings by closing down Safeway’s Hayes headquarters, should it be successful in its bid for the number four retailer, could see a major reduction in the level of reporting and civil society engagement.
2003 results: overview
No data were submitted.
A store shelf survey of local and locality foods stocked by retailers was conducted by Sustain and the NFWI.
Comments from Wm Morrisons plc
No comments were provided.
Posted:
26-Nov-2003