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Morrisons’ profits plunge in 2020

Morrisons’ profits plunge in 2020

Published on Mar 18th, 2021
Photo: Morrisons

UK retailer Morrison’s has announced a 50.7% fall in profits to £201 million for the year to January 31. The plummeting profits are mainly due to the additional £290 million in costs linked to the Covid-19 pandemic. A large contributor is an increase in staff absences, as well as the £230 million impact of handing its business rates relief back to the Treasury.

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UK consumers switching online in their droves

UK consumers switching online in their droves

Published on Mar 16th, 2021


According to NielsenIQ data, the number of British households shopping for groceries online has more than doubled in the last year, reaching 41% compared to 18% at the same point in 2020. Overall, online grocery sales are up 132% y-o-y, while sales at bricks and mortar stores declined by 1%. UK shoppers spent £1.5bn on online groceries in the four weeks ending 27th February 2021, with the online share reaching 17%. This is the highest ever share for online grocery sales in the UK and a 1% increase in share in just a month. 

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Lidl reports losses following heavy investments

Lidl reports losses following heavy investments

Published on Feb 17th, 2021
Photo: LIDL GB

Lidl UK has suffered heavy losses after investing in new stores. A pre-tax loss of £25.2 million was reported for the year up to February 29th 2020. This comes after registering profits of £19 million in the previous year. The losses come after the German-owned discounter invested £654 million in opening 51 stores as well as a new warehouse in Scotland, while expanding its UK workforce by 8% to 23,249 employees. 

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