While most leading retailers were reporting better festive trading results, there were two major exceptions – Marks & Spencer and Bradford-based Morrisons.

Morrisons chief executive Dalton Philips admitted that lagging behind competitors on convenience stores and online trading had cost the business dear, describing Christmas trading results as “disappointing”.

Morrisons’ like-for-like sales fell by 2.5 per cent in the six weeks to December 30 compared with a year earlier. This followed a similar decline in the previous quarter of 2012.

Morrisons has also lost more market share, slipping to 12 per cent in the 12 weeks to December 23, from 12.4 per cent a year earlier, according to market researcher Kantar Worldpanel.

It’s been a rocky few months for the UK’s fourth-largest supermarket, with some pundits and former company insiders questioning whether Mr Philips’s management style is problematic. A string of Morrisons senior executives have left, most recently company secretary Greg McMahon, who was the sixth top manager to seek pastures new over the past year.

Commercial director Richard Hodgson left in November to join Waitrose, the John Lewis-owned supermarket with a branch in Otley.

Human resources director Norman Pickavance and marketing director Richard Lancaster also departed, with the latter joining budget retailer Poundland. Senior director Mike Snell has also gone.

Perhaps the biggest fish to move on is finance director Richard Pennycook, who will leave in June. He has been a rock upon which both Mr Philips and his predecessor Marc Bolland have relied.

Without suggesting Morrisons is in crisis, clearly all does not seem well.

The recent deal to sponsor Saturday night TV programmes featuring Ant & Dec and use them in advertising created a publicity stir. Whether it will significantly boost sales remains to be seen as the duo are not to everyone’s taste.

Morrisons will increase its chain of convenience stores, which was piloted in Ilkley, from 12 to more than 50 this year. But Mr Philips remains coy about launching a full-blown online offering.

But the longer the delay, the more potential harm to Morrisons’ position in the marketplace and to its reputation. Unless things pick up soon, the knives could be out for Mr Philips. Meanwhile, he remains confident that shareholders back his strategy and is “100 per cent” certain to be around to unveil Morrisons full results in March.