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New Morrisons boss tells shoppers 'I'm listening'

Published 18/03/2015, 09:27
© Reuters. People walk beneath a sign outside a Morrisons supermarket in Liverpool, northern England
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By James Davey

LONDON (Reuters) - David Potts, new boss of Britain's fourth-largest supermarket chain Morrisons (L:MRW), has appealed to customers to tell him what they want as he takes on the challenge of turning around the struggling firm.

Potts started as chief executive of the Bradford, northern England-based grocer on Monday and in a video posted on its Facebook page said he would spend his early weeks in the job listening to as many customers and staff as possible.

He said he wanted to see "what it is people really love about Morrisons, what it is they'd like to see more of ... and to some extent what they'd like to see less of.

"You would be helping me a great deal as I undertake this job if you were able to contribute your thoughts to the way we can improve your shopping at our business, in our stores and online," he added.

The Facebook page has a link for customers and staff to send comments to Potts, who succeeded Dalton Philips after he was ousted in January after failing to revive the grocer during his five-year watch.

The daunting task Potts faces was illustrated last Thursday when Morrisons reported its lowest annual profit in eight years and warned investors it would cut its dividend.

Morrisons, in common with larger rivals Tesco (L:TSCO), Wal-Mart-owned (N:WMT) Asda and Sainsbury 's (L:SBRY), is grappling with food price deflation and an intensifying price war launched to counter discounters Aldi and Lidl.

© Reuters. People walk beneath a sign outside a Morrisons supermarket in Liverpool, northern England

All are also having to adapt as consumers shop more frequently, buy more online and shop locally rather than at large out-of-town stores.

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