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Smaller stores: Morrisons said it intends to open around 400 more Morrisons Daily stores to reach a total of 2,000 by 2025.
Morrisons is opening more convenience stores as its price war with Aldi and Lidl shows signs of bearing fruit.
The supermarket group said it intends to open around 400 more Morrisons Daily stores to reach a total of 2,000 by 2025.
Since its takeover by private equity, it has lost customers to discounters and two years ago handed over its status as Britain’s fourth largest supermarket to Aldi. But boss Rami Baitieh said yesterday that a price equalization scheme launched in February was off to a “great start”.
He said there was “increasing confidence” among customers as Morrisons reported second-quarter sales for the three months to April 28 of £3.8bn, an increase of 3.7 per cent on the previous year.
This boosted profits in the first half of its financial year, excluding service stations, up 16 per cent to £321m.
Morrisons also made some progress in reducing its huge debt, reducing it by 35 per cent to £4bn from a peak of £6.2bn.
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