Find in the news:
BY COUNTRY

Profit drop of 51% for 2014 first half for Morrisons



Morrisons saw a decline of 51% in their profits during the summer, after it cut prices on around 1200 items by an average of 17% during May.
For the same period, Waitrose’s operating profits declined by 9.4% as it also had to invest in store renovations and price cuts. Ocado saw a 15.5% increase in sales for the 12 weeks to 10 August due to the benefit derived from home deliveries.  The numbers of orders received increased by 17%, however there was disappointment about the level of growth as customers spent less per order than one year before.

All the large supermarkets are trying to hang on to their shoppers who are being enticed by lower prices from Lidl and Aldi.  This has prompted stores, such as Tesco and Asda, to cut their prices on baskets of everyday items.

Aldi’s advancement received attention as it announced that it plans to spend £70m on extensions to its UK head office as part of a larger scheme to almost double the number of its UK stores to 1000 by 2021.  This implies opening six stores per month, every month, over the next six years.

The pressure on prices is expected to reach a high after Tesco, the largest supermarket in the UK, appointed a new chief executive.  He is expected to act in a more aggressive manner regarding prices that his predecessor.

Morrison’s plans on spending 25% more on price cuts from now until January, than it did on its summer campaign.  The chain made use of £135m for price cuts and product improvement during the first half, but it has £165m in hand for the run up to Christmas.  Most of this budget will be spent on price cuts, with some of it going toward the improvement of quality of its own-label foodstuffs.

Analysts stated that the price cuts at Morrisons are based on desperate marketing, which is simply creating an illusion of new business.  Morrisons denied that it was trying to buy sales with its voucher campaigns, but hopes to attract more shoppers with these efforts by the end of this year.  


More about shopping malls in the United Kingdom



DAY BEFORE YESTERDAY, USA:
There will be Lord & Taylor store back in New York. However, so far, only in pop-up format and only for the holidays.
DAY BEFORE YESTERDAY, United Arab Emirates:
The media giant Warner Bros. announced its intention to open its world's first themed hotel in 2021.
Dec 9, 2019, USA:
Cadillac Company offers its customers a fundamentally new experience of choosing a car.
Dec 6, 2019, USA:
Levi's Haus Miami has become home to a variety of brand collaborations, interactive entertainment, and innovation testing.
Dec 5, 2019, USA:
The Italian brand sells "the most expensive T-shirts in the world" in support of its first real estate project.
Dec 4, 2019, Malaysia:
The facility will serve dishes previously available in the planes of a famous budget Malaysian airline.
Friend
and Follow
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
Dania Pointe
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us