Morrisons’ has once again announced a disappointing set of financial results. We now hear that the company’s pre-tax losses have deepened to £792m increasing from £176m only a year ago. Add to that a fall in sales by 5.9% in the year to February. The supermarket has announced as a result of this poor set of results they intend to close 23 stores and cut 300 jobs. This is the company’s worst set of results for 8 years.
Says David Burton-Sampson, Labour’s Candidate for the Pitsea South East Ward, “These are a worrying set of results not only for the company and all who work for it, but also for the people of Pitsea. Once again we hear a bad news story about Morrisons whilst we still live in hope of them finally opening and transforming our town centre. The fall in sales has been directly attributed to the rising success of discount supermarkets Aldi and Lidl, both of which we already have in Pitsea.”
David alongside other local residents who have continually voiced their concern for the future of the development would like an assurance that Morrisons are still 100% committed to Pitsea, to finishing the development on time and to delivering a long term service to local people. “All too often large companies have little thought for the communities in which they are based. I am sure Morrisons are looking at further ways to reduce their overheads and increase their income,” warns David. “With a new CEO on the way and the company already moving away from their M Local model, who knows what plans are afoot for the Pitsea site? I would urge the Tory administration at Basildon Council to press for assurances that these latest revelation will have no impact on the Pitsea site. This administration has shown the upmost support for this development, they now need to ensure it is delivered.”