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The WM Morrison Supermarket has become the latest retail store in the UK warning that it will rush to reduce costs after the recent tax increases of the employer government, as the advisor defended this step.
CEO Rami Betée, who Join the supermarket owned by private shares In 2023 to revive its wealth and rely on a decrease in sales, her current cost of costs will be partially accelerated in response to the increases of Chancellor Rachel Reeves in national insurance contributions to employers and national living wages that were revealed in October a budget.
Baaitiith He said, “With the stress of the budget. I am talking about how we can go more and deeper” to make the retail seller more efficient and productive, after providing 312 million pounds from costs in the year to October 27. He said.
Baitiéh added that the grocery chain, which was acquired by Clayton Doblé & Rice in the process of acquisition of an interest in 2021, had no plans at the present time for counterfeit cut operations. It would think 3000 jobs.
Separately, Tesco, the largest employer in the private sector in the United Kingdom, said on Wednesday that it will reduce 400 jobs, which affects bakery roles in some stores, as well as managing mobile phone stores. The company, which includes more than 330,000 employees, said in a statement that the decision aims to simplify the work more.
Baitiéh's comments came as Reeves, in a Wednesday speechShe defended her decision to increase Nics to employers, but she admitted that there were “consequences for business and beyond.”
Separately, Morrison It boasted about registering the strongest quarterly improvement in sales for nearly four years, thanks to the availability of the best products and competitive prices that attracted shoppers to their stores.
But since the end of its financial year, the quarter growth in a quarter has slowed after an electronic attack on the technology provider affected the availability of Christmas sales at a later time.
Baitiéh said: “Nothing in retail is a straight line and this was definitely the case in the first quarter. Our availability is improving, and although it is still higher than last year, it is not yet to the previous level.”
Morrison is the fifth largest supermarket in the United Kingdom with a market share. According to industry data this month of Kantar, the Morrison Selling growth behind Tesco and Sainsbury's – the largest supermarket chains in the United Kingdom – as well as Aldi and Lidl specialists during the celebration period.
Similarly -likened Morrison Sales increased by 4.9 percent in the fourth quarter to 27 October, which is the strongest quarter since the beginning of 2021, compared to an increase of 3.3 percent during the same quarter of the previous year.
Sales -like sales have increased 4.1 percent, while total revenue increased by 3.8 percent to 15.3 billion pounds. The company said that his favorite scale rose 11.2 percent to 835 million pounds.
The pre -tax loss decreased widely to about 500 million pounds, according to the head of finance, Joe Jouf, and the net debt decreased to about 3 billion pounds, from 5.5 billion pounds “at the height.” She added that the annual interest payments are about 250 million pounds annually.
Morrisones agreed last year to an agreement for Selling the intended gasoline works To Motor Fuel Group, also owned by CD & R, with the majority of 2.5 billion pounds £ 2.5 billion to pay its debts.
“Morrisones began to appear from a bleak period of small sales and escalating debts with a reinforced public budget,” said Eleanor Simpson-Gold, a retail analyst in Globalta.
