What's new:
â– Falling sales
â– Pressure on chief executive
â– Concerns over strategy
IC TIP:
Hold
at
198p
Things are going from bad to worse for stricken grocer Morrisons (MRW). A trading statement last week revealed a 4.2 per cent decline in first-quarter revenue, and an eye-watering 7.1 per cent slump in like-for-like sales. That sparked a further fall in the share price, which is now 31 per cent lower than it was a year ago.