date:Jun 24, 2014
cuts between now and 2017.
Dalton Philips, CEO of Morrisions, said, These are permanent price cuts, not promotions, and they won't be the last.
The price drops are being financed by cost savings, said the supermarket.
In March, Morrisons announced a pre-tax loss of 176 million for its full year after profits of 879 million in the previous 12 months.
Chief executive Dalton Philips has waived his 374,000 yearly bonus.
The company announced a like-for-like sales decline of 7.1% (excluding fue