date:Jan 08, 2013
The UKs fourth biggest supermarket Morrisons has lost touch with its core customers, claimed one leading city analyst, after the retailer reported total sales down by 0.5% over the six weeks to December 30 2012.
Shore Capital analysts Clive Black and Darren Shirley said: We believe that the business has lost touch with some of its core customers but not attracted new ones, particularly as a result of some of the range reviews and, arguably, fresh formats to a degree.
Also the retailer had fail