Morrisons stuck between 'a rock and a hard place'

摘要

Morrrisons saw like-for-like sales tumble 7.1% in the 13 weeks to 4 May - further evidence that the retailer is stuck between "a rock and hard place", according to analysts. The retailer, which announced a new three-year strategy in March to fend off competition from the discounters, saw total sales fall 5.6% in the first quarter. The company's share price fell sharply on the back of the news, but has since bounced back.