Appealing to and reaching more customers...
Morrisons delivered a strong performance again in 2010/11. In an environment that was particularly difficult for consumers our continuing focus on quality fresh foods at great value made Morrisons a natural destination.
Following Dalton Philips' appointment as CEO, and the development of the 'Different and Better than Ever' Plan, the Group's internal management structures and processes were realigned to ensure delivery of the Plan. As a consequence, the Group's previous Executive Board of four was expanded to a Management Board of ten. A number of existing directors and senior managers were promoted to this Board. The management team was strengthened in the year by a number of senior external hires, including a new Commercial Director, Strategy Director, Grocery Director and Private Brand Director.
Strong turnover growth
- Total turnover increased 7%
- Store sales once again grew ahead of the market
- Like-for-like sales increased 0.9%
- 15 new stores opened, including one replacement
- 16 Netto stores to be acquired from ASDA
- over 30 new stores will open in 2011/12
- IT systems replacement continues
- New regional distribution centre development underway and planned to open in late 2011
- Two food production investments earlier in the year are performing well