McColl’s blames Covid-19 and supply chain disruption for falling sales and profits
The embattled c-store chain McColl’s has blamed falling sales and profits in the 2021 financial year on the ongoing coronavirus pandemic and supply chain issues.
In a trading update for the 52 weeks to November 28, 2021, McColl’s said it expected adjusted EBITDA to be between £20m and £22m while total full-year revenue fell 11.2% to £1.11bn.
The c-store retailer put the decline in revenues down to “supply chain disruption in the second half” of the period and the conclusion of its “store optimisation programme”.
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