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Morrisons praises progress in reforms as investors call for exposure to unhealthy sales

A group of institutional investors representing $ 1.1 trillion in funding wrote to Morrisons Chairman Andrew Higginson, asking the company to expand sales of healthier food and beverage products.

Investors include NEST, Guy’s & St Thomas’ Foundation, and JO Hambro Capital Management, and the letter was coordinated by ShareAction. They claim that Morrisons’ current healthy eating strategy is not well-developed.

Morrisons has set a goal of increasing the number of healthier, home-branded products to 65% of all home-branded products by 2025. We measure and work on all product lines, not just our own labels.

“Investors want to better understand how supermarkets are responsible for their enormous impact on public health.“Basquez said.

This letter will be issued today (June 10) prior to the Morrisons Shareholders’ Meeting. Shareholders are unable to ask questions this year, so the letter specifically asks the company to disclose its share of total sales of healthier products in food and beverages. Announce a long-term commitment to grow that share “significantly.” In addition, the annual goals for 2022 and beyond will include progress reports on deliveries.

Morrisons: Is your health strategy late?

Morrisons occupies 10% of the grocery market and is one of the largest listed supermarket operators in the UK, along with Tesco and Sainsbury’s.

ShareAction emphasized that of the three companies, only Morrisons has no sales-based health goals. Recently, Tesco succumbed to investor pressure after ShareAction submitted Britain’s first shareholder resolution on health issues to supermarkets..

https://www.foodnavigator.com/Article/2021/06/10/Morrisons-hails-progress-on-reformulation-as-investors-call-out-exposure-to-unhealthy-sales?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS Morrisons praises progress in reforms as investors call for exposure to unhealthy sales

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