date:Mar 26, 2014
Morrisons chief executive Dalton Philips said chain will be reducing its profits as it takes on budget giants such as Aldi and Lidly by pledging to invest 1bn in prices.
The supermarket boss visited the chains recently developed store in Newport Road in Cardiff ahead of addressing members of the Cardiff Business Club tonight at the St Davids Hotel Spa.
The 45-year-old said: Theres big structural changes going on in the market.
People are shopping in a very different way than they did previou