Morrisons sees shift in shopper behavior during Christmas due to Covid-19 restrictions

1. Deploy appropriate accounting theory and tools to the critical evaluation and interpretation of financial reports.

2. Master critical awareness of how management accounting has developed tools and techniques in order to improve strategic decision making and performance management.

3. Deploy appropriate accounting theory and techniques to the evaluation and analysis of performance measurement.

4. Critically evaluate strategic and stakeholder analysis using appropriate accounting theory and tools.

Supermarket chain Morrisons has said it saw a shift in shoppers' behaviour in the run-up to Christmas as a result of Covid-19 restrictions.

It said that customers started shopping early to secure their festive treats, with traditional

Christmas goods in strong demand. Champagne sales jumped 64% over the key Christmas trading period, while sales of whole salmon increased by 40%.

Overall sales at Morrisons rose by 9.3% in the three weeks to 3 January, compared with the same period last year.

The supermarket also suggested that festive sales had been driven by the fact that rules around larger family gatherings changed in England, meaning customers had to buy for last-minute smaller festivities.

In the nine weeks to 3 January, like-for-like sales, stripping out the effect of new shops opening and fuel sales, were up 8.5% and in the six months to the same date they rose 8.1% compared with a year ago, boosted by strong online sales and that of its wholesale business.

Compile more recent financial information yourselves. Using all the financial data available, critically review the financial performance of Morrisons PLC.

Your report will need to include an analysis of any new plans and strategies.

• Assess and review the most recent financial performance of the group leading up to and including YEAR END 2020. You are required to undertake additional research to determine the following:-
• What have been the underlying reasons for the financial performance? (identify and discuss significant strategic developments)
• What significant trends/ developments have occurred since 2016 in respect of the case study organisation and relevant business sector?
• What do you consider to be the major financial performance challenges and opportunities in the foreseeable future?

You must submit assessments in Microsoft Word, Microsoft PowerPoint or PDF format.

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