Morrisons has made many cost-cutting measures this year.By Lucy Ashton
Morrisons is making multiple store closures across the UK that include some of its Daily Convenience stores, as well as axing in-store services such as its cafes.
The cafes will go at Morrisons in Glasgow Road, Dumbarton, and Helensburgh on the Cardross Road opposite Hermitage Academy.
A total of 52 cafes, 13 florists, 35 meat counters, 35 fish counters, four pharmacies and all 18 market kitchens are affected by the closures.
Morrisons was also said to have reported a 3.9 percent increase in -like-for-like sales, alongside a 4.2 percent increase in total sales, rising to a staggering £3.9 billion in the second quarter of its financial year.
Chief Executive, Rami Baitieh said that, despite the major restructuring plan, Morrisons is focused on delivering value to customers amidst the current retail climate challenges.i
Just last year, the supermarket reported a total loss of £919 million, with the year before that being even higher at £1.3 billion. However, a pre-tax profit of £2.1 billion for the year ending October 27, 2024, helped mark a significant turnaround for the company.
A large portion of the previous profit was said to have been generated from the sale of its petrol forecourts to Motor Fuel group, which reportedly equated to a total of £2.6 billion.
Meanwhile, Morrisons’ underlying performance also improved, with losses in continuing operations being halved to £538 million from £1.09 billion.
This also included permanently ending multiple in-store services, also similar to Morrisons, with clothing changing rooms, multiple hot food counters and patisserie sections being closed for good.