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Current Position:Home » News » Marketing & Retail » Retail » Topic

Morrisons to move into online grocery as profits fall

Zoom in font  Zoom out font Published: 2013-03-15  Views: 27
Core Tip: Britain's fourth biggest grocer Wm Morrison said on Thursday it would launch an online food offer by January 2014 to better compete with rivals as it posted its first fall in full-year profits for six years.
MorrisonsUnlike the other grocers that make up Britain's so called "big four" - market leader Tesco, Wal-Mart's Asda and J Sainsbury - Morrisons currently does not have a website for the home delivery of food.

Morrisons is in talks with British online grocer Ocado which could lead to some form of partnership deal.

The group made an underlying pretax profit of 901 million pounds ($1.34 billion) in the year to Feb. 3.

That compared with analysts' consensus forecast of about 902 million pounds but was down from 935 million pounds made in the 2011-12 year.

Morrisons did, however, raise its dividend for the year by 10 percent to 11.8 pence.

 
 
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