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Safeway bites back

17 March 2005

Integrating an acquisition is never easy. But having two profit warnings on similar accounting issues suggests Morrison hasn’t got a grip. Investors used to find Morrisons’ backoftheenvelope style charming. That may not last if Safeway keeps throwing up glitches. Investors used to find Morrison’s backoftheenvelope style charming. But the Safeway deal may have overstretched its top brass.

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