Morrisons announced today that it plans to eliminate 720 jobs at its head office with the drinks team at risk of potential redundancies.
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Morrison's results were broadly in line with expectations, City analysts agreed - but incoming chief executive David Potts faces a tough year.
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Morrisons has posted an annual pre-tax loss of £792m, as total turnover fell 4.9% to £16,816m in the 52 weeks to 1 February 2015.
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Supermarkets are missing out on £400 million in sales as price deflation continues to pick up pace offering further savings to consumers, according to latest figures from Kantar Worldpanel.
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Shifts expected in the off-trade over the next 12 months are likely to create a "huge opportunity" for independent merchants, according to Tim Wilson of the Wilson Drinks Report.
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Morrisons has named former Tesco director, David Potts, as its new chief executive following weeks of speculation of who would succeed Dalton Phillips who announced he was stepping down in January.
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After 13 reported months of decline Tesco has posted 0.3% growth and the supermarket industry as a whole appears to be improving with growth accelerating to 1.1%.
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Aldi plans to open 70 more stores across the UK and hire 150 store managers, 300 assistant managers and 4,500 store staff in 2015.
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Using award winning wine stickers on bottles can boost total wine sales by up to 15% in retail outlets, equating to millions of pounds in extra sales, according to research released today by the International Wine Challenge.
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Waitrose is bucking the trend of store closures and job losses in the grocery sector by opening 14 new outlets in 2015, with more in the pipeline for 2016.
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Christmas sales figures are neck-in-neck across the grocery market, according to Kantar's latest data, which shows the retailers are the closest they have ever been since the market research firm began keeping records 20 years ago.
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Morrisons saw like-for-like sales fall 3.1% in the six weeks to January 4 - making it the worst supermarket performer over Christmas - as the board pulled the plug on embattled chief executive Dalton Philips.
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Up to 95% of the 200 suppliers who took part in our survey into the behaviour of major UK retailers want them to change. Here Gemma McKenna reveals what suppliers really think of the big multiples
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Mark Jarman, head of wine operations at Morrisons, relives the retailer's award-winning year and predicts further success for sherry and South American wines.
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While the grocery market has returned to very slight growth, real grocery deflation, which has seen prices fall by 0.7% versus last year, equates to savings of £182 million for consumers in the last three months, according to Kantar.
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Morrisons has been forced by the Advertising Standards Authority to pull what it claims are "misleading" adverts offering special promotions after only two complaints.
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Lidl is the UK's best supermarket for wine when it comes to value - according to an 18-month study tasting over 4,000 wines carried out by the Wotwine app.
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Morrisons' saw a sharp drop off in sales in the last three months, but insisted it had "made progress" on its strategy, and needed more time to see the results.
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A leading retail expert has said Britain's Big Four need to ditch larger stores and "cosy up" to discounters by locating convenience outlets next door.
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Professor Heiner Evanschitzky of Aston Business School asks whether the supermarkets handle Britain's changing shopping habits.
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