Join our community of smart investors

Morrison to make convenience move

TIP UPDATE: Morrisons could be set to announce big plans for small shops
February 17, 2012

Reports from trade magazine Retail Week suggest that after extensive trials, Morrison is ready to begin a more substantial rollout of its new convenience format.

IC TIP: Buy at 291p

The grocer currently lags its major rivals in the convenience space with just three M Local stores, all of which are in northern England. That's considered a disadvantage, as competitors such as Sainsbury and Tesco have been aggressively opening smaller stores to take advantage of the trend towards 'top-up shopping' to complement a larger weekly shop. But according to reports Morrison is set to announce plans for 300 new convenience outlets by 2014, alongside a non-food e-commerce launch later this year, as well as the rollout of its three year store upgrade programme.