Fourth Largest chain of Supermarket in United Kingdom, Wm Morrison Supermarket plc is popularly referred to as Morrison. Wm Morrison Supermarkets founded by William Morrison in 1899 is a part of the companies that figures in the FTSE 100 Index. For a considerable period, Morrison kept its business focus in the northern part of England. In 2004, Wm Morrison Supermarkets plc started expansion in the south of England by taking over the Safeway. With a strong presence in the country Morrison is today the fourth ranking supermarket in UK.
William Morrison was a butter and egg merchant in Bradford’s Rawson market. His son later became the Chairman of the Wm Morrison Supermarkets plc and managed the company until 2008. In 2008, Sir Ken Morrison (son of William Morrison) officially resigned from the post of Chairman.
Morrison superstores concentrate on home wares and groceries. Electronics, clothing and furnishings are sold in smaller proportions as compared to the other competitors. The stores of the Morrison Supermarket chain are spread in six areas across the entire country. 51 of the stores are located in Scotland, 75 in Midlands, 72 in North, 63 in South East, 62 in South Central and 51 in South West. The pretax profits for the company’s Superstores shot up to £ 369 million in 2007 as compare to £ 312.19 million in 2006.
Morrison’s takeover of Safeway gave Wm Morrison Supermarket plc a nationwide presence on 8 March 2004 as the Safeway stores were concentrated in South of England and Scotland. Three weeks before the takeover Safeway restructured the accounting system and the books of Safeway were inflated due to appropriation of early bonus from the suppliers. This resulted in a £ 180 million deficit when the accounting system of Morrison was applied after the takeover. This resulted in turmoil in the Stock Exchange.
Market Street is the name of the format of the company. Street setting of the early 20th Century is the theme for most of the superstores owned by Morrison. On 23 April 2007, Morrison disclosed a new identity for the brand. The Logo was kept same but then there was a change in the subtle style. On 23 July 2007, the company launched a new website with a new advertising campaign. Third party and in-house contractors forms the base of Morrison’s distribution network. DHL Exel supply chain is largest service provider for the company. The total market share of Morrison in January 2008 was at 11.4%. Morrison is lagging behind Tesco (31.5% market share), ASDA (16.7% market share) and Sainsbury’s (16.4% market share). Doing basic things efficiently & selling food at low prices from large store is the base of Morrison’s marketing strategy.
· The total employee strength of Morrison Supermarkets is 118,880
· The company bagged the of the year award in 2008
· It has a total of 375 stores.
Wm Morrison Supermarket plc, Morrison, superstores, store, company