Morrisons in £450 million makeover

15-03-2007

Morrisons in £450 million makeover
Supermarket group Morrisons has announced plans for a £450 million makeover in a bid to 'freshen up' the brand and 'de-clutter' some of its stores.

The move, announced alongside the publication of the retailer's annual results, includes plans to replace the company's distinctive black and yellow logo, introduce new staff uniforms and extend opening hours across a third of Morrisons' stores.

A new advertising campaign will also be launched in April to support the changes and replace the "more reasons to shop at Morrisons" slogan, which the group has used for the past 30 years.

"Morrisons is a great business and the results of this review are about evolution not revolution," said the company's chief executive Marc Bolland.

"Reflecting our nationwide presence, and our many new customers, we will be making Morrisons the food specialist for everyone," he added.

In further heartening news for Britain 's fourth-biggest supermarket group, Morrisons revealed that profit before tax and exceptional items was £369 million in the year to February 4th, in comparison to just £62 million last year.

The results appear to indicate that Morrisons has now recovered from the difficulties it encountered following its takeover of rival Safeway in 2004, with turnover also up three per cent to £12.5 billion over the year.

Like-for-like sales, excluding fuel, were also up 5.2 per cent, compared with 2.4 per cent in the previous year.



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