- McColl’s third-quarter like-for-like sales fell 1.8%
- The retailer’s overall sales rose 1.8% during the period
- McColl’s is aiming to bolster its convenience offer to drive up sales
McColl’s has recorded a drop in its like-for-likes despite rising overall sales as it focuses on expanding its convenience offer.
The group posted a 1.8% fall in its like-for-likes sales in the 13 weeks to August 28, although its total sales were up 1.8% during the period.
The convenience retailer, which agreed a deal in July to acquire 298 Co-op convenience stores, attributed its slump in like-for-likes sales “continued pressure on traditional categories” as sales across its newsagent and standard convenience stores dropped 3.7%.
Like-for-like sales in McColl’s premium convenience and food and wine stores decreased 1.2% during the period, while like-for-likes across its recently acquired and converted stores edged up 1%.
At the end of its third quarter the retailer operated 953 convenience stores and said it is on track to have a 1,000-strong convenience store estate by the end of this year.
Chief executive Jonathan Miller said: “2016 continues to be a year of significant progress in delivering our convenience strategy.
“As a business we remain focused on the key elements of our clear strategy: to increase market share, grow our convenience product range and deliver great customer service, which we are confident will cement our position as a leading neighbourhood retailer.
“We continue to be on track to deliver results in line with the board’s expectations for the financial year.”