Morrisons unveils three-year revival plan

British supermarket chain Morrisons today unveiled its three-year plan to revive the business, after profits fell 81% in the wake of its £3bn (€4.3bn) takeover of Safeway.

The UK’s fourth-largest grocer set itself a goal of eliminating £30m (€43.4m) of central costs, and a further £30m on its distribution network by 2009.