Morrisons Reveals Convenience Store Plans

Supermarket chain Morrisons has announced it is to expand into the convenience store market next year as part of its plans for future growth.
Recently-appointed chief executive Dalton Philips said the retailer will trial its first convenience stores in the first half of 2011 and is also considering the possibility of joining rivals Tesco, Asda and Sainsburys in the online grocery market.
He confirmed that each convenience store will be less than 3,000 square foot in size and will offer a range of fresh produce .
The chief executive added that Morrisons will run a “limited geographical trial” of its planned online offering next year in order “to understand the online market better”.
“Today we are outlining plans to build on our strengths and generate profitable growth,” he commented. “I am determined to make Morrisons better than ever.”
The proposals were made as Morrisons reported a 14 per cent rise in half-yearly pre-tax profits of £410m, slightly ahead of City expectations.
The Bradford-based firm said it is now welcoming an extra 800,000 customers at its stores each week, and expects low market growth to continue in the second half of 2010.