Morrisons supports small suppliers through COVID-19 despite £200m revenue dip
A UK supermarket has reported that it will be implementing immediate payments for small suppliers despite a dip in revenue.
Morrisons announced today that it achieved a revenue of £17.5bn in 2019, down £200m from the previous year.
It attributed the decrease to favourable weather and events in 2018, as well as “unprecedented political debate” over Brexit and the mid-December general election.
The company announced earlier this year that it will be restructuring its stores, meaning a potential reduction in employees.
However, in today’s statement the company said that it will be taking measures to support its suppliers as well as its employees amid the coronavirus outbreak.
It said it will be taking three primary actions: guaranteeing full pay, rather than statutory sick pay, for affected employees, expanding its online store to enable customers to shop online more easily, and implementing immediate payments for small suppliers.
Andrew Higginson, chair, and David Potts, chief executive, commented: “We are currently facing unprecedented challenges and uncertainty dealing with COVID-19.
“Looking after our colleagues and customers is our priority, ensuring that we have a clean, safe place to shop and work.
“At Morrisons, we have a strong, experienced, and above all, determined team of the best food makers and shopkeepers in Britain.
“We promise to work as hard as we can for customers, suppliers, and all stakeholders to keep our shops operating as smoothly as possible. Thank you to all our colleagues for your incredible efforts so far.”
Do you want to sell more to businesses in your region? Get Bdaily Marketing's latest Media Pack now to see how we can help →