Morrisons profits fall by half in 2020 as costs of Covid pandemic bite

Supermarket’s boss calls results a badge of honour as it absorbs extra expense of ‘feeding the nation’Coronavirus – latest updatesSee all our coronavirus coverageMorrisons’ profits for 2020 slumped by half, which the supermarket’s chief executive called a badge of honour as the extra costs incurred in “feeding the nation” during the coronavirus crisis cancelled out the benefits of higher sales.The Bradford-based company’s annual pre-tax profit before one-offs fell to £201m on sales of £17.5bn. Continue reading... https://www.theguardian.com/business/2021/mar/11/morrisons-profits-fall-2020-covid #morrisons #business #retail_industry #supermarkets #coronavirus #uk_news