Latest news with #BlueYonder
Daily Mail
12 hours ago
- Business
- Daily Mail
Morrisons has 'bounced back' from cyber attack, says boss
The chief executive of supermarket chain Morrisons has hailed the group's recovery from a cyber-attack. Rami Baitiéh said the grocery firm had 'bounced back strongly' since its technology provider, Blue Yonder, suffered a ransomware incident last November. Morrisons constructed a new warehouse management system to maintain its stock levels after the hack badly disrupted its operations. Its like-for-like revenue growth subsequently slowed to just 2.1 per cent in the quarter ending 26 January, compared to 4.9 per cent over the prior three months. However, the Bradford-based retailer reported that its comparable turnover increased by 3.9 per cent in the 13 weeks ending 27 April, while total sales expanded by 4.2 per cent to £3.9billion. Morrisons also revealed that its first-half underlying earnings before nasties climbed by 7.2 per cent to £344million. The group, which is owned by US private equity firm Clayton, Dubilier & Rice, opened 42 franchise sites during the period, taking the overall number of Morrisons Daily convenience outlets to above 1,700. Alongside this, it began trials of several in-store schemes, introducing a new World Foods offer and a revamped fresh food counter concept, Market Street, that more closely resembles a farm shop. Baitiéh said: 'Against the backdrop of a challenging macro environment, with inflation driving subdued consumer sentiment, value remains at the forefront of customers' minds. 'Throughout the first half, we've worked hard on helping customers through these challenges with a rigorous focus on price, promotions and meaningful rewards for loyalty.' Morrisons further announced that it had raised its cost savings target to £1billion after surpassing its initial £700million goal during the last quarter. The company unveiled the original cost-cutting target two years ago to help finance price reductions for consumers struggling with inflationary pressures, caused mainly by soaring energy bills and supply chain disruptions. As part of these plans, Morrisons declared its intention in March to shut over 50 cafes, four pharmacies, multiple convenience stores and florists, and dozens of counters serving meat, fish, or hot food. About 365 jobs are at risk of permanent redundancy due to the closures, with the majority of those affected working in the convenience stores. Morrisons exited the convenience market in 2015 after selling its M local sites, but returned to the sector just months later with the launch of its Morrisons Daily brand. It currently holds an 8.4 per cent share of the UK grocery market, according to recent data from market research organisation Kantar.
South Wales Guardian
16 hours ago
- Business
- South Wales Guardian
Morrisons ‘bounces back' from cyber attack despite pressure on shoppers
However, it came as the UK's fifth-largest supermarket chain warned that rising inflation is driving 'subdued' sentiment among shoppers. On Thursday, the Bradford-based grocery business revealed that group sales grew by 4.2% to £3.9 billion for the 13 weeks to April 27, compared with the same quarter a year earlier. Rami Baitieh, chief executive of Morrisons, said he was 'pleased to report that Morrisons has bounced back strongly' from disruption linked to a cyber attack on its technology supplier Blue Yonder in November. The retailer had previously said the incident caused slower sales growth in the quarter to January and highlighted that its recent turnaround progress was 'set back' by the issue. The company was unable to see its product availability and stock levels for four days, leading to reduced availability in stores over the key trading period. However, Morrisons saw sales growth accelerate from 4.2% in the previous quarter to 4.3%, with a like-for-like growth figure of 3.9%. Meanwhile, underlying earnings grew by 7.2% to £344 million for the first half of its financial year. Bosses said the business had seen sales supported by investment into pricing and promotions amid intense competition across the sector and pressure on customer budgets. Mr Baitieh added: 'Against the backdrop of a challenging macro environment with inflation driving subdued consumer sentiment, value remains at the forefront of customers' minds. 'Throughout the first half we've worked hard on helping customers through these challenges with a rigorous focus on price, promotions and meaningful rewards for loyalty.' It comes as the company pushes on with its major turnaround plan, which has seen it overhaul a raft of store operations. In March, Morrisons announced that 365 staff were at risk of redundancy because of plans to close some of its cafes, convenience stores, florists and fresh food counters. As a result, it said it would shut 52 cafes, all 18 market kitchens, 17 Morrisons Daily convenience stores, 13 florists, 35 meat counters, 35 fish counters and four pharmacies. In its latest update, Morrisons said it has launched new trials including a new-look Market Street section within its stores. Morrisons added that it made a further £58 million in cost savings over the latest quarter, amid plans to save £1 billion by the end of the 2026 financial year.
Glasgow Times
16 hours ago
- Business
- Glasgow Times
Morrisons ‘bounces back' from cyber attack despite pressure on shoppers
However, it came as the UK's fifth-largest supermarket chain warned that rising inflation is driving 'subdued' sentiment among shoppers. On Thursday, the Bradford-based grocery business revealed that group sales grew by 4.2% to £3.9 billion for the 13 weeks to April 27, compared with the same quarter a year earlier. Rami Baitieh, chief executive of Morrisons, said he was 'pleased to report that Morrisons has bounced back strongly' from disruption linked to a cyber attack on its technology supplier Blue Yonder in November. The retailer had previously said the incident caused slower sales growth in the quarter to January and highlighted that its recent turnaround progress was 'set back' by the issue. The company was unable to see its product availability and stock levels for four days, leading to reduced availability in stores over the key trading period. However, Morrisons saw sales growth accelerate from 4.2% in the previous quarter to 4.3%, with a like-for-like growth figure of 3.9%. Meanwhile, underlying earnings grew by 7.2% to £344 million for the first half of its financial year. Bosses said the business had seen sales supported by investment into pricing and promotions amid intense competition across the sector and pressure on customer budgets. Mr Baitieh added: 'Against the backdrop of a challenging macro environment with inflation driving subdued consumer sentiment, value remains at the forefront of customers' minds. 'Throughout the first half we've worked hard on helping customers through these challenges with a rigorous focus on price, promotions and meaningful rewards for loyalty.' It comes as the company pushes on with its major turnaround plan, which has seen it overhaul a raft of store operations. In March, Morrisons announced that 365 staff were at risk of redundancy because of plans to close some of its cafes, convenience stores, florists and fresh food counters. As a result, it said it would shut 52 cafes, all 18 market kitchens, 17 Morrisons Daily convenience stores, 13 florists, 35 meat counters, 35 fish counters and four pharmacies. In its latest update, Morrisons said it has launched new trials including a new-look Market Street section within its stores. Morrisons added that it made a further £58 million in cost savings over the latest quarter, amid plans to save £1 billion by the end of the 2026 financial year.
Yahoo
17 hours ago
- Business
- Yahoo
Morrisons ‘bounces back' from cyber attack despite pressure on shoppers
Morrisons said it has 'bounced back' from a cyber attack which disrupted its Christmas trading, as it posted stronger sales and profits for the latest quarter. However, it came as the UK's fifth-largest supermarket chain warned that rising inflation is driving 'subdued' sentiment among shoppers. On Thursday, the Bradford-based grocery business revealed that group sales grew by 4.2% to £3.9 billion for the 13 weeks to April 27, compared with the same quarter a year earlier. Rami Baitieh, chief executive of Morrisons, said he was 'pleased to report that Morrisons has bounced back strongly' from disruption linked to a cyber attack on its technology supplier Blue Yonder in November. The retailer had previously said the incident caused slower sales growth in the quarter to January and highlighted that its recent turnaround progress was 'set back' by the issue. The company was unable to see its product availability and stock levels for four days, leading to reduced availability in stores over the key trading period. However, Morrisons saw sales growth accelerate from 4.2% in the previous quarter to 4.3%, with a like-for-like growth figure of 3.9%. Meanwhile, underlying earnings grew by 7.2% to £344 million for the first half of its financial year. Bosses said the business had seen sales supported by investment into pricing and promotions amid intense competition across the sector and pressure on customer budgets. Mr Baitieh added: 'Against the backdrop of a challenging macro environment with inflation driving subdued consumer sentiment, value remains at the forefront of customers' minds. 'Throughout the first half we've worked hard on helping customers through these challenges with a rigorous focus on price, promotions and meaningful rewards for loyalty.' It comes as the company pushes on with its major turnaround plan, which has seen it overhaul a raft of store operations. In March, Morrisons announced that 365 staff were at risk of redundancy because of plans to close some of its cafes, convenience stores, florists and fresh food counters. As a result, it said it would shut 52 cafes, all 18 market kitchens, 17 Morrisons Daily convenience stores, 13 florists, 35 meat counters, 35 fish counters and four pharmacies. In its latest update, Morrisons said it has launched new trials including a new-look Market Street section within its stores. Morrisons added that it made a further £58 million in cost savings over the latest quarter, amid plans to save £1 billion by the end of the 2026 financial year.
Western Telegraph
17 hours ago
- Business
- Western Telegraph
Morrisons ‘bounces back' from cyber attack despite pressure on shoppers
However, it came as the UK's fifth-largest supermarket chain warned that rising inflation is driving 'subdued' sentiment among shoppers. On Thursday, the Bradford-based grocery business revealed that group sales grew by 4.2% to £3.9 billion for the 13 weeks to April 27, compared with the same quarter a year earlier. Rami Baitieh, chief executive of Morrisons, said he was 'pleased to report that Morrisons has bounced back strongly' from disruption linked to a cyber attack on its technology supplier Blue Yonder in November. The retailer had previously said the incident caused slower sales growth in the quarter to January and highlighted that its recent turnaround progress was 'set back' by the issue. The company was unable to see its product availability and stock levels for four days, leading to reduced availability in stores over the key trading period. However, Morrisons saw sales growth accelerate from 4.2% in the previous quarter to 4.3%, with a like-for-like growth figure of 3.9%. Meanwhile, underlying earnings grew by 7.2% to £344 million for the first half of its financial year. Bosses said the business had seen sales supported by investment into pricing and promotions amid intense competition across the sector and pressure on customer budgets. Mr Baitieh added: 'Against the backdrop of a challenging macro environment with inflation driving subdued consumer sentiment, value remains at the forefront of customers' minds. 'Throughout the first half we've worked hard on helping customers through these challenges with a rigorous focus on price, promotions and meaningful rewards for loyalty.' It comes as the company pushes on with its major turnaround plan, which has seen it overhaul a raft of store operations. In March, Morrisons announced that 365 staff were at risk of redundancy because of plans to close some of its cafes, convenience stores, florists and fresh food counters. As a result, it said it would shut 52 cafes, all 18 market kitchens, 17 Morrisons Daily convenience stores, 13 florists, 35 meat counters, 35 fish counters and four pharmacies. In its latest update, Morrisons said it has launched new trials including a new-look Market Street section within its stores. Morrisons added that it made a further £58 million in cost savings over the latest quarter, amid plans to save £1 billion by the end of the 2026 financial year.
