- Marketing, Friday, September 12, 2014 6:46 AM
Morrisons is blaiming challenging trading conditions for a fall in turnover and pre-tax profits, despite having run its 'biggest ever' marketing campaign. Total turnover for the six months to 3 August
fell 4.9% to £8.5bn and pre-tax profits tumbled 51% from £371m to £181m. Like-for-like sales, excluding fuel and VAT, dropped 7.4%. However, chief executive Dalton Phillips said the
supermarket was "encouraged by the progress" made since implementing the start of a three-year turnaround plan six months ago.
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