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News Release

London

Head of JLL UK Retail comments on Morrisons store closure announcement


Commenting on the latest Morrisons announcement, Head of JLL UK’s Retail team Tim Vallance, said: Dave Potts is doing what Dave Lewis did with the Tesco store portfolio earlier this year and addressing Morrisons own 'dead wood.'

“Consumers lack time and look for convenience and the failure of the M Local concept is more to do with the wrong location strategy and inability to scale competitively as opposed to the concept being flawed. Some "cutting edge" stores emphasising the quality of their fresh produce is also an opportunity missed.

“Morrisons has one key strength against the other 'big four' in that it has yet to maximise the Southern consumer base and is still seen very much as a Northern store. It also has the weapon of good quality fresh food. Focusing on developing their brand and looking at innovative ways to share space with leisure operators such as gyms and coffee shops in their bigger stores will help relieve pressure on their balance sheet."