Dalton Philips, the chief executive of Wm Morrison, is expected to say next week that he is moving closer to a trial of a convenience store format, as he seeks to add new engines of growth to Britain’s fourth biggest supermarket chain and prepares to return about £1bn to shareholders.
Morrison is understood to be close to securing the sites for the trial. The supermarket has also been looking at the branding under which the stores would operate, with the names ‘M Local’ and Morrisons Local both under consideration.
Financial Times 05/03/11 page 14
