Morrisons to cut capital building programme by 25%

摘要

Supermarket giant Morrisons is to slash its construction programme even further following its announcement of an £800m loss for the year to February 2015. The firm said capital expenditure for the current year would fall by around a quarter, from £520m to £400m, with a big slowdown in the planned opening of new convenience stores, and a continuation of its policy of only opening new major stores "in exceptional circumstances". This is further to the dramatic fall in capital spend last year, when it fell by more than 50% from almost £1.1bn.