By Jennifer Faull

Morrisons’ pre-tax profits slummed to £239m for the six months to 3 August from £344m a year earlier.

Like-for-like sales excluding fuel fell 7.4 per cent from a 1.6 per cent fall a year earlier while online sales contributed 0.4 per cent to overall sales in the same time period.

However, Sir Ian Gibson, non-executive chairman at Morrisons, remained upbeat. He said the industry was experiencing “unprecedented change” but that Morrisons was “well underway with building the foundations for a better future.”

The supermarket has struggled to compete against discount chains like Lidl and Aldi, embarking on a £1bn programme to cut earlier Read full story ›

Source: The Drum