Overview

• Morrisons completed the closure of between 52 and 54 in-store cafés across the UK following the earlier shutdown of its 17 Morrisons Daily convenience outlets.
• The retailer reported a full-year pre-tax profit of £2.1bn for the year to October 27, 2024, marking its first return to profit since its 2021 private equity takeover.
• Underlying performance improved significantly as losses in continuing operations halved to £538m and like-for-like sales rose by 3.9% in the second quarter.
• Cost-cutting measures have reduced the workforce by over 3,600 roles, lowering total staff numbers from 104,819 to 101,144.
• Proceeds from the £2.6bn sale of its petrol forecourts to Motor Fuel Group are being used to strengthen core grocery offerings and fund store enhancements.