November 04, 2010
Yorkshire supermarket group Morrisons is planning to add to its presence in London and the South East as it plans the next stage of its expansion. Speaking to Insider at the British Council of Shopping Centres (BCSC) conference in Manchester this week, estates manager Kevin Tierney said the business was also looking at some key strategic changes.
"We’ve got big, big plans to increase our market share – 25 stores or so a year," said Tierney.
"London in particular is a key area for us and this year we’ve opened a southern development office to add to our presence there."
Morrisons welcomed BCSC delegates to a large stand on the conference’s main avenue and reported brisk trade.
It is looking at some key strategic changes, as Tierney told Insider: "We’re currently trialling a convenience format which we’ll be looking to roll out. It will be a unique concept, we’re not copy-catting – it will have a fresher feel. We’re also looking at online – I don’t think any grocer has yet worked out how to make money from it."
In a trading update to the Stock Exchange this morning, Morrisons said its total sales performance for the third quarter was in line with market growth.
During the quarter, it had opened seven new stores, including one replacement, and said it was on track to meet its target of adding 400,000 sq ft of new space during the year.
Morrisons said it had experienced an increase in sales of 2.8 per cent (excluding fuel) during the quarter and like for like sales had grown by 1.3 per cent.
Source: Insider Media
