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Breakingviews: Morrisons steals Tesco’s poor sales thunder

Thursday, Jan 09, 2014 - 04:18

Jan. 9 - A tough Christmas for UK retailers as M&S and Tesco post a drop in like-for-like sales. But Morrisons beats them all, says Breakingviews – with a thundering profit warning.

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Sesno and I've been out tough Christmas to UK retailers and an accident Tesco sales falling but Morrison. And I gonna steal. Breaking news headline head has started and that's Honda with a thundering profit warning. Says Robert Colton joins in the studio tonight my thoughts -- the -- as a very nice -- yep profit warning from -- this does not only does. Now it doesn't and the ms. -- side you know we're we're expecting bad decent Tesco may be. -- suspense is a might be both. And I'd agree we should forget the -- those two. All onto the right place but Morrison was really shocked. But this morning I guess one -- -- sort of measuring the debt that shocked to hear -- number -- the the other members that they would do to produce this statement. In about ten days tons of it Baltic bullets out. I'm struggling -- sodium than a full blood profit warning really and the market has taken us. Well actually I think I think the shares are down about 5% in north -- since -- which stated circumstances. I think it's it's it's pretty modest in. Could could've -- -- us. But I think they bit the -- the beat the other thing too. To it to look into these numbers about as it really shows a great deal about what's going on and you pay retired. And -- that big sort of story is about multi channels does not just about those big stools. It's about can be installed the cold optional. And it's about all line. And why Tesco -- it is quite confident that what I figured international. Oh well at the back. I'm eight eights eights vehicle caught on heritage on on the Internet and 81 -- And the importance of that is is is underlined by a -- that is done badly but not too badly. Morrison on the other hand which is really Schultz of on line stuff and really solve this convenience still mobile. -- -- he's clearly lagging and it really shows what kind of happen if you don't get this makes writes I was -- what happens. I would guess it a surprise cut it out. I that's my conclusion is that you know. You can we -- he's always really really competitive but as a real squeeze on the really competitive and changing marketplace as well. The backdrop hasn't played well forget what you hear about UK GDP crying in the supermarkets people -- pour. I know what it seems to mis -- points towards base line it I've told products wolf -- It's certainly it might not be kind of as Parcells as we've noted in the costly and other big discounts to net front and to the supermarkets not be able clever about it. -- -- -- And they might have to be sacrificing margins in tons of my king. Schools bright so that's -- putting will cost him today so it might not actually feed through. To consumers but I find it very. Well let's -- I find it very reasonably you know profit margins supermarkets groups always under pressure on the -- -- -- and let you know act as you set and as we spoke about yesterday. And I and I and I. Approach your home on the four previous headlines on -- please. Its citizens. It does but in two I only relative glacial as as I said yesterday you know so -- Tuesday's sales of flat this is a high ball well that's true. But still the bodies it is not terribly terrorists and terribly impressive -- these things -- could get dragged into that price war. Or that margin erosion. Process. As well I'm. And and eight. These shows off quite chilly -- the Dallas site well sized business like about it. Now but it had a -- product is a very good reason why he says a tree actually and you know some really really tough times lie ahead. Robert many thanks -- that. Robert called for more -- heading -- in -- what's our US breaking news show every day 1230 instance seventeen that he GMC. -- Mexico is what's --

Breakingviews: Morrisons steals Tesco’s poor sales thunder

Thursday, Jan 09, 2014 - 04:18

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