Morrisons is likely to prioritise a revamp of its Market Street format rather than the immediate replacement of its distinctive black and yellow fascia when chief executive Marc Bolland unveils its new look later this month.

It is estimated it will cost Morrisons £20m to replace external and internal store signage at its 368 stores

But, said a source: "Changing the shop signs and own-label packaging is a big cost and there are more immediate things that can be done to create a bigger impact.

"How customers experience the brand will be the real focus and the changes that convey Morrisons' new positioning will be implemented first. That will have a bigger bang."

When Bolland unveiled his strategic plan in February, he said Morrisons needed to build on the strength of the Market Street format and bring skilled workers, such as its 2,000 in-store bakers, from the back of the store and onto centre-stage.

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