Morrisons to sell groceries online as they announce disappointing results for 2012 (From Bradford Telegraph and Argus)
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Morrisons to sell groceries online as they announce disappointing results for 2012
Bradford-based Morrisons revealed it will launch online food sales by the start of next year as it announced 'disappointing' results for 2012 in a difficult grocery market.
The UK's fourth largest supermarket - which is trailing its key rivals in online shopping and convenience stores - said like-for-like sales, excluding fuel, were down 2.1 per cent in the year to February 3, 2013.
Underlying pre-tax profits fell to £879 million from £947million a year earlier, while turnover rose three per cent to £18.1billion from £17.7billion the previous year.
Morrisons has increased its total dividend for the year to 11.8p a share from 10.7p in 2011.
Dalton Philips, chief executive, said::"The sustained pressure on consumer spending was reflected in our like-for-like sales performance, which was not as good as it should have been.
"We have implemented a range of measures to address this and are making good progress in improving our promotional effectiveness and in communicating our points of difference. "
He announced that Morrisons much anticipated move into online food retailing would start in January 2014 and would offer a 'uniquely Morrisons' operation.
Mr Philips confirmed Morrisons is in discussions with online retailer Ocado which may lead to an agreement to licence some of Ocado's intellectual property and operating knowledge to help Morrison launch its online grocery business.
He denied speculation that Morrisons was thinking of buying Ocado.