Join our community of smart investors

Morrisons hits rock bottom

Things are going from bad to worse for stricken supermarket Morrisons (MRW), but are the shares now so lowly valued that they're worth a punt?
May 13, 2014

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.

This is subscriber only content
Start your trial to keep reading
PRINT AND DIGITAL trial

Get 12 weeks for £12
  • Essential access to the website and app
  • Magazine delivered every week
  • Investment ideas, tools and analysis
Have an account? Sign in