Morrisons considers selling Kiddicare following £176m loss

The supermarket chain has been forced to consider major restructuring following a “disappointing year” in which turnover fell by two per cent.
Author:
Publish date:
morrisons.gif

Morrisons is planning to sell Kiddicare, following reports of £176 million loss for the year to the end of February.

The supermarket chain has been forced to consider major restructuring following a “disappointing year” in which turnover fell by two per cent.

The restructure will see the firm now target the market between discounters and the “big four” supermarkets.

The firm has been noticeably slower in recognising the move from out-of-town shopping centres to local convenience stores and following a disappointing performance from its baby products business, is now planning to sell Kiddicare, reports the BBC.

Chief executive Dalton Philips, said: “This isn’t about being a discounter. This is about offering really great value.

“There is a tipping point where the price perception gap has just widened too far between the discounters and the big four and we’re going to address that.

“We have identified over a billion pounds that we can take out of our business now and that billion pounds is going to be invested back into our proposition to get those lower prices for our customers.”

Related

Featured Jobs