date:Aug 29, 2012
dded.
Shore Capital said Morrisons underlying hadbeen subdued and the business has underperformed its superstore peers.
Sharper competition
In addition to sharper competition from Asda and others, Morrisons results are likely to be impacted by challenges associated with its store modernisation and the introduction of Fresh Formats plus reduced consumer spending.
Morrison has embarked upon a store modernisation and change programme that we believe poses challenges as well as opportunities,sai