Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
If there was any doubt about the severity of the challenges facing Morrisons - yesterday’s quarterly figures from Kantar World Panel which showed a real-terms 5.1% decline on the same period last year, and this morning’s announced losses of £176m - nail them. Morrisons is in play.
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