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A turnip for the books

2 July 2004

The retailer warned profits this year will be lower than expected due to plummeting sales and margings at its new business, Safeway. It is too soon to say for sure that the acquisition has backfired on Morrison. But the early signs are certainly not good. The retailer warned profits this year will be lower than expected due to plummeting sales and margins at its new business, Safeway.

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