Morrisons raises savings target to £1bn as turnaround gains pace

Morrisons has increased its cost savings target to £1bn after posting an uptick in first quarter sales.
The supermarket saw group revenues rise 2.4% to £4bn in the 13 weeks to 26 January, up 2.1% on a like-for-like basis bolstered by a strong performance of its More Card loyalty scheme.
Chief executive Rami Baitiéh said the retailer had “made exceptional progress in a very short time” against its £700m saving target, as it delivered a further £56m in sa