All Morrisons articles – Page 15
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AnalysisAnalysis: Would Majestic owners Fortress be a good fit for Morrisons?
Since Fortress’s £6.3bn offer for Morrisons was recommended to shareholders on Saturday, the private investment giant has become the favourite to take over the grocer. Retail Week looks at what kind of owner Fortress would likely be.
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Opinion‘Morrisons chiefs would not turn their backs on principles to do a wrong deal’
As far as statements of intent by would-be buyers go, particularly private investors, Fortress’ words carried some big commitments about what sort of owner of Morrisons it would be.
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NewsMorrisons braces for bidding war after accepting £6.3bn takeover
Rival private equity firms are reportedly considering tabling rival bids for UK grocer Morrisons after it accepted a £6.3bn takeover yesterday.
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NewsMorrisons agrees £6.3bn sale to Majestic Wine owner
US investment giant Fortress is to acquire Morrisons in a deal said to recognise the grocer’s unique characteristics, long-term strategy and responsibilities to stakeholders.
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Opinion‘Morrisons – the buy-out barons have some explaining to do’
The controversy instantly ignited by the possibility of private equity gobbling up Morrisons should be an amber light for the big buy-out houses.
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NewsMorrisons’ private-equity suitor told to up the ante as backlash continues
The private-equity firm behind rebuffed interest in Morrisons has been told to up its potential offer as the backlash against a mooted takeover of the grocer continues.
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NewsMorrisons sale prospect prompts plea from hard-pressed UK farmers
The ongoing speculation around the possible sale of Morrisons to a private equity firm has prompted a plea for continued support from the farmers union.
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AnalysisAnalysis: Why is retail directors’ pay prompting a shareholder backlash?
Following a big shareholder revolt over Morrison’s decision to award executive bonuses and with JD Sports also likely to be in the firing line, Retail Week looks at why executive pay is becoming increasingly contentious.
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NewsMorrisons spurns £5.5bn takeover approach from US private equity firm
Morrisons has rebuffed a shock takeover bid from a US buyout firm advised by former Tesco boss Sir Terry Leahy, a move that could spark approaches from rival bidders.
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NewsMorrisons rebuffs £5.5bn takeover bid from private equity firm CD&R
Morrisons has rejected a takeover bid from American private equity giant Clayton, Dubilier & Rice (CD&R).
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NewsMorrisons shareholders dismiss Covid efforts in massive pay rebellion at AGM
Morrisons investors have opposed the grocer’s pay report in large numbers at today’s AGM, prompting dismay at the grocer.
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NewsMorrisons sales jump as fuel and food-to-go rebounds
Morrisons has posted an uptick in sales as it looks forward to “a year of meaningful profit growth”.
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Retail Navigator Analysis
Morrisons (Overview)
Morrisons has been led by chief executive Rami Baitiéh since November 2023 after the departure of David Potts. Under its ‘Fix, Rebuild, Grow, Sustain’ strategy, Morrisons is building a brand that is “broader, stronger, popular and more accessible”. It believes that this has contributed to its profitable and capital-light growth, particularly via further leveraging its vertically integrated assets.
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Retail Navigator AnalysisMorrisons (SWOT)
Morrisons owns most of its supermarkets and, while this is giving it scope to raise cash through some sell-offs, the proportion of stores held freehold is unlikely to be reduced below 80%, which will still be a significantly higher proportion than most of its rivals. It also produces more than half of the products it sells.
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Retail Navigator AnalysisMorrisons (People)
Rami Baitiéh, a former chief executive of Carrefour France, became chief executive at Morrisons in November 2023 after David Potts announced his departure from the business.
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Retail Navigator AnalysisMorrisons (Financials)
Morrisons’ group revenue excluding fuel increased 2.7% to £14,885m for the year to 29 October 2023 (FY2023), with likes for likes excluding fuel up 1.8%. Impacted by lower fuel prices and the acquisition of McColl’s Morrisons’ total group sales came in at £18,358m in FY2023 from £18,479m the previous year.
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NewsCo-op ditches bags for life to cut plastic use
The Co-op is to replace plastic bags for life with compostable and renewable carriers as it seeks to reduce the use of plastic.
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DataData: The grocery winners and losers from the Covid-19 pandemic
Now that most grocers have issued full-year results, Retail Week crunches the numbers on a year marked by the coronavirus pandemic that supercharged food retailing.
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NewsEx-Post Office boss quits Dunelm and Morrisons boards
Former Post Office chief executive Paula Vennells has stepped down from a number of non-executive director positions folllowing the IT scandal that rocked the British institution.
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AnalysisLife after Covid: John Lewis, Asda and Ikea on retail’s post-pandemic priorities
From a renewed focus on price to a more flexible workforce and changing approaches to online, stores and supply chain, Retail Week looks at what’s top of the to-do list for retailers.
