McColl’s boasts annual sales growth of more than 15%

McColl’s has posted 15.8% year-on-year sales growth following the integration of 298 convenience stores into its portfolio.

Like-for-like sales in its convenience stores in Q3 rose 0.7%, while its newsagents’ sales increased by 0.3%. Its recently-acquired and converted stores were up 2.6% in the quarter. The company said growth had been driven by key grocery categories.

Jonathan Miller, McColl’s chief executive, said: “Customer feedback has been positive and the early performance has been very strong, with significant sales uplifts and increased participation in key convenience categories, including fresh and chilled food.

“The 298 newly-integrated convenience stores have driven strong revenue growth, and our existing estate has continued to perform well, delivering a second consecutive quarter of positive like-for-like sales growth.”

At the start of August, McColl’s secured a wholesale supply partnership with Morrisons, reviving the Safeway brand in its stores and stripping millions of pounds from Palmer & Harvey and Nisa.

The chain has also been on the hunt for new premises, with it showing interest in both One Stop and Nisa over the summer.

Miller added: “We continue to look at opportunities to further enhance organic growth, and are pleased by the progress we are making with our convenience store refresh trial.