Morrisons is expected to announce full details of its 'optimisation programme' next Thursday as well as a record loss of £200m after exceptionals.
Analysts agree Morrisons' pre-tax profit will be in region of £75m. However, it is also expected to reveal a whopping £280m exceptionals bill resulting from the integration of Safeway and store conversions.
Details of the chain's turnaround strategy will be revealed, although key elements of both its operational and marketing strategies have already been set in motion, such as its new 'Real Value Every Day' slogan.
Morrisons is also expected to update the City on its search for a new chief executive and whether, as rumoured, Sir Ken plans to move up to become life president.
Sources say the shortlist of candidates for CEO now includes the likes of Colin Holmes of Tesco, Sainsbury's Mike Coupe and Asda's Angela Spindler. Ex-Somerfield boss John von Spreckelsen could be a candidate for chairman should Sir Ken become president.