‘After Morrisons’ gloomy update, Tesco will set tone for all of retail next week’

Morrisons storefront

A downbeat trading update from grocer Morrisons raised questions over prospects for other grocers and the retail industry more widely.

Morrisons, which was acquired by private equity giant CD&R last year, seemed to confirm that the clouds gathering for some time had formed into a thunderhead. Inflationary cost pressures have combined with the shock of war in the Ukraine to send consumers running for cover.

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