So supermarket chain Morrisons has posted a £176 million loss but promises to turn things around, including pumping money into savings on the shelves, according to reports on BBC breakfast television this morning.
Here at Money Fight Club HQ we tend to take everything that supermarkets say with a pinch of salt (considerably in excess of the recommended daily limit).
Supermarkets are not in the business of feeding our families but in the business of making money.
Whatever they may say about savings, or online shopping, or convenience stores the only people who grow fat at senior managers and shareholders.
While we couldn’t find any details on the plan to give customers savings we could find details for an increased shareholder dividend “in line with our previous commitment and consistent with our progressive dividend policy”.
There’s also promise of a dividend of no less that 13.65p per share for the next year.
Personally, that leaves a nasty taste in our mouth.
Why supermarkets suck – their sneaky deals.
