A BUDGET supermarket is to open an additional 400 stores in the UK to compete with Aldi and Lidl.
The bargain retailer aims for a total of 2,000 sites next one year.
Morrisons wants to open 400 Morrisons Daily convenience stores as part of its plans to take over retail giants Aldi and Lidl.
The supermarket has set its sights on opening 2,000 stores in the UK by 2025.
However, the exact list of locations has not yet been announced.
This is because the budget chain saw its profit increase by 4.1 percent over the three months to April.
Rami Baitieh, CEO of Morrisons, said: “I am pleased with the company’s overall performance in the second quarter, with supermarkets, convenience stores, wholesale and online all delivering growth and contributing to a 4.1% increase in like -for-like-sales. .
“Over the past eight months we have listened intently to more than 340,000 customers, colleagues and suppliers and the insights from this exercise are helping to refine and shape activity across all three pillars of our strategy: commercial excellence, operational optimization and new value creation. ”
The supermarket also reported that it has reduced its debt levels from a whopping £6.2 billion to £4 billion.
Mr Baitieh noted that Morrisons is on par with its competitors following the introduction of the ‘Aldi and Lidl Price Match’ program in February.
He added: “It’s clear that availability and our loyalty program are the two areas our customers talk about most and that’s why we’re focusing heavily on these areas.
“Our Aldi and Lidl Price Match, which was introduced in February, has gotten off to a good start and is giving customers increasing confidence in the competitiveness of our in-store prices.”
It comes amid Morrisons’ 125th anniversary celebrations, with the supermarkets launching offers for customers across the UK.
To mark the supermarket’s birthday, Morrisons is selling the iconic Cadbury Freddo bar for its original price of just 10p.
The small 18g Dairy Milk bars normally retail for 25p, but for a limited time the price has been reduced, allowing nostalgic customers to save as much as 60 per cent on this much-loved chocolate treat.
Morrisons has also organized other offers and activities during the birthday month.
HISTORY OF MORRISONS: FROM EGG AND BUTTER STALL TO BRITISH STACK
WILLIAM Morrison started the business in 1899 as an egg and butter stall in Bradford.
In 1952 his son Ken Morrison took over the business and opened a small store in the city center.
It was the first self-service store in Bradford, the first store to display prices on its products, and had three tills.
The first Morrison supermarket opened in 1961 in the Girlington area of Bradford.
In 1967 the company was listed on the London Stock Exchange.
In October 2021, the supermarket was sold to private equity firm Clayton, Dubilier & Rice.
As of February 2021, Morrisons served 11 million customers weekly and employed 110,000 staff.
Morrisons is the fifth largest supermarket in Britain in terms of market share, after Aldi.
This includes the supermarket’s biggest ever “Basket Bonus”, allowing loyal customers to win points, bigger rewards and free products, with the chance to become a More Points Millionaire.
Morrisons is also launching a £1 million charity fund to improve community spaces across the country and has special offers on its best-loved products.
Meanwhile, thousands of struggling families will be paid £90 in supermarket vouchers within weeks.
The vouchers will be sent to families between July 8 and 18 and can be used in Asda, Sainsbury’s, Morrisons or Tesco.
Households in North East Lincolnshire who need help paying for food and accounts are eligible for the scheme.
The maximum amount that can be paid out per household is £250.