Commenting on today’s announcement that Chief Executive Dalton Philips is to leave Morrisons and the latest Kantar Worldpanel figures, Tim Vallance, Head of JLL UK Retail, said: “2015 is appearing to be fightback year for the big four, with Morrisons following in Tesco’s footsteps with the announcement of the closure of some loss making stores. Taking the step of ousting current CEO Philips is a big step and it will be interesting to see if they appoint someone in the mould of Tesco’s Dave Lewis with experience outside the retail sphere.
“Today’s latest Worldpanel figures shows that there is now a gap of just 0.5% sales growth separating the four largest retailers, the tightest gap since 1994. Sainsbury’s, Asda, Morrisons and Tesco have space, place, brand and service with which to launch new strategies to get them on the front foot ahead of the discount retailers this year. Watch this space for these store closure announcements being followed by the unveiling of new, innovative and experiential ways of using store space. Price, convenience, online capability, provenance and service will determine the supermarket war victors.”