McColl’s convenience chain saw its like for like sales decline by 1.1% in its fourth quarter as trading was impacted by a decline in traditional categories and unfavourable weather.
In the 13 weeks to November 26th, total revenue was up 28.9%. Despite the fall in like for like sales across the quarter, McColl’s said sales in its recently acquired and converted stores were up 1.3% in the period.
The results meant that total revenue climbed by 19.1% across the full year. Like for like sales in the year were up 0.1%, with significant mix improvements as a result of growth in key grocery categories.
McColl’s chief executive, Jonathan Miller said: "I am delighted to report another strong quarter of revenue growth. For the first time the business has achieved annual revenues of more than £1 billion, boosted by our transformational acquisition of 298 high quality convenience stores last year, demonstrating that this is now a business of real scale.”
Mr Miller added: "McColl's is well positioned to continue to take advantage of the growing convenience market, with clear opportunities to enhance organic growth across our estate, as well as continued expansion through our acquisition programme.
"As we look ahead to next year, we will focus on delivering an enhanced customer offer in over 1,300 stores through the groundbreaking wholesale partnership we signed with Morrisons, which will see us launch hundreds of Safeway branded products, exclusively in McColl's from January 2018.”
