Morrisons Dalton Philips M-local

Dalton Philips

Morrisons' boss Dalton Philips says that the UK's fourth biggest supermarket is making positive strides as it looks to increase its market share.

Citing the retailer's focus on fresh produce as one of its key strengths, Philips insisted that the retailer would continue to focus on food rather than over-complicating its offering.

'We are not saddled with a large number of hyper-markets - white elephants which are expensive to run and don't meet the needs of today's British consumers,' he explained as he took several digs atMorrison'sbig four rivals adoption of home electronics.

Philips says that his strategy to build up thelevel of M Local convenience stores and to establish a Ocado-backedonline grocery option, for launch in early 2014, will provide a massive boost for the growth of the Bradford-based retailer.

'We didn’t have any convenience stores when I arrived – and, to be honest, not even a plan for them,' admitted Philips. He pledged: 'We had 12 M locals at the start of this year. That number will have doubled in the next two weeks.It will have doubled once more by the end of next month – and doubled again by the end of the year.'

Admitting that he was 'excited' about the future, Philips said that the retailer has targeted 2015 as the year in which all of its plans will 'come together,' and insisted that Morrisons will have a 'real edge' over its rivals on the quality and value of its food.

You can read Dalton Philips' speech in its entirety here.