Barrs Court Red Posted March 13, 2014 Report Share Posted March 13, 2014 Is it doomed? I'm a big fan, and was looking forward to its online shopping service expanding to Bristol, but can't help but think it's getting squeezed so much by Lidle and Aldi, thw future looks bad. Anyone in that industry know enough to say what will happen to it? Link to comment Share on other sites More sharing options...
Fordy62 Posted March 13, 2014 Report Share Posted March 13, 2014 The figures were amazing. Last year 850m profit and this year a loss (if I heard correctly?) staggering turn around. Link to comment Share on other sites More sharing options...
Red-Robbo Posted March 13, 2014 Report Share Posted March 13, 2014 Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2014 Report Share Posted March 13, 2014 Morrisons expansion was huge in past 10 years but they forgot about online and frankly to still not have anything in place is shocking - it's like blockbuster not adapting to movies on demand and look how that ended! Link to comment Share on other sites More sharing options...
BRISTOL86 Posted March 13, 2014 Report Share Posted March 13, 2014 The figures were amazing. Last year 850m profit and this year a loss (if I heard correctly?) staggering turn around. I haven't seen the accounts yet but I'm pretty sure they made a massive adjustment to the book value of their land and buildings. It's cashflow would probably be more valuable than it's income statement in terms of gauging performance. Link to comment Share on other sites More sharing options...
Red-Robbo Posted March 13, 2014 Report Share Posted March 13, 2014 Morrisons expansion was huge in past 10 years but they forgot about online and frankly to still not have anything in place is shocking - it's like blockbuster not adapting to movies on demand and look how that ended! I think they've signed a deal with Ocado to provide their online service now, Tom. Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2014 Report Share Posted March 13, 2014 I think they've signed a deal with Ocado to provide their online service now, Tom. Yeah they did but it's still not in place. They also bought another online system about 2 years ago and then realised it needed converting for UK use. Seems to be a calamity to be honest Link to comment Share on other sites More sharing options...
Red-Robbo Posted March 13, 2014 Report Share Posted March 13, 2014 Yeah they did but it's still not in place. They also bought another online system about 2 years ago and then realised it needed converting for UK use. Seems to be a calamity to be honest Aye - and of course they don't do the small 'local' shops thing either. However, as has been said, they still trade in profit and this big loss has a lot to do with accountancy and taxation. Still, a supermarket price war on the cards says Robert Peston. Everyone's a winner! Unless you supply a supermarket or work for one. Link to comment Share on other sites More sharing options...
marshy Posted March 13, 2014 Report Share Posted March 13, 2014 They actually increased the dividend and stated that it would be raised by at least 5% again next year so a certain amount of confidence in ongoing prospects. Link to comment Share on other sites More sharing options...
Guest Posted March 13, 2014 Report Share Posted March 13, 2014 Aye - and of course they don't do the small 'local' shops thing either. However, as has been said, they still trade in profit and this big loss has a lot to do with accountancy and taxation. Still, a supermarket price war on the cards says Robert Peston. Everyone's a winner! Unless you supply a supermarket or work for one. They do the small shops - called M or something like that - one in Portishead on marina Link to comment Share on other sites More sharing options...
chipdawg Posted March 13, 2014 Report Share Posted March 13, 2014 They do the small shops - called M or something like that - one in Portishead on marina Entirely separate business though apparently The root of the problem really is with the economic perception of 'success'. Morrisons may well have just repositioned themselves to make their business much stronger in the long term, but because their annual revenue generation is likely to be lower (and taking out the write-downs on property it fell by less than 10%) it's automatically a disaster. The whole model of profits increasing year on year is corrupt, broken and only really helps those who can afford to own large portions of these companies Link to comment Share on other sites More sharing options...
Kid in the Riot Posted March 14, 2014 Report Share Posted March 14, 2014 My missus bought shares in them about 6 years ago - time to sell perhaps! I'm a fan as well - their lunchtime salad bar is top notch! Link to comment Share on other sites More sharing options...
WTFiGO!?! Posted March 14, 2014 Report Share Posted March 14, 2014 Picked up a hoiston duck chinese microwave job for 19p the other night. No wonder they're going under! Link to comment Share on other sites More sharing options...
Eddie Hitler Posted March 14, 2014 Report Share Posted March 14, 2014 None of them are a patch on Aldi / Lidl, when I have to occasionally shop in Tesco I feel like I've been mugged. Link to comment Share on other sites More sharing options...
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