William Morrison Declines To Comment On Online Launch Report
September 03 2010 - 6:47AM
Dow Jones News
William Morrison Supermarkets PLC (MRW.LN) Friday declined to
comment on a report that the U.K.'s No. 4 supermarket group by
market share will announce plans to sell its groceries online.
Earlier, The Sun newspaper, citing unnamed sources, said Chief
Executive Dalton Philips is to announce the retailer's intended
foray into Internet retailing with the company's interim results
next Thursday. The Sun is owned by News Corp. (NWS.AU), publisher
of this newswire.
A spokesman for the grocer said it wouldn't comment on rumor and
speculation.
Philips, who left Canadian retailer Loblaw Cos. Ltd. (LBLCF) at
the end of March, took up his position as Morrisons CEO on May 1,
replacing Marc Bolland, who left to head up Marks & Spencer
Group PLC (MKS.LN), the U.K.'s biggest clothing retailer by
volume.
In May, Morrisons posted a 0.8% rise in first-quarter same-store
sales excluding fuel and value added tax, compared with 8.2% a year
earlier. In the 12 weeks to Aug. 8, its sales grew 6.9%--faster
than rivals Tesco PLC (TSCO.LN), J Sainsbury PLC (SBRY.LN) and
Wal-Mart Stores Inc.'s (WMT) Asda Group Ltd.
Tesco is the market leader for online grocery retailing.
At 1007 GMT, Morrisons shares were down 0.1% at 291 pence, in a
higher London market, valuing the company at GBP7.71 billion.
-By Simon Zekaria, Dow Jones Newswires; +44 207 842-9410;
simon.zekaria@dowjones.com