All McColl's articles – Page 2
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News
McColl’s warns of profit headwinds as its seeks to raise capital
McColl’s has said it may struggle to meet management expectations for the full year if availability issues continue into the second half.
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News
McColl’s considers fresh equity raise to drive Morrisons c-store expansion
Convenience chain and Morrisons wholesale partner McColl’s is exploring an equity raise to drive the expansion of its Morrisons Daily store format.
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Retail Navigator Analysis
McColl’s (Overview)
McColl’s is a convenience store and newsagent operator with a strong presence throughout the UK. After falling into administration in May 2022, the retailer has been acquired by Morrisons’ private-equity owner CD&R.
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Retail Navigator Analysis
McColl’s (SWOT)
McColl’s distribution model, which ensures the delivery of stock directly to its stores by its suppliers, means its stores can quickly respond to the shopping needs of its customers across different store formats in different neighbourhoods. The grocer faces fierce competition from all the big multiple grocery retailers that are, almost without exception, looking to grow their convenience estates.
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Retail Navigator Analysis
McColl’s (Strategy)
Boss Jonathan Miller stepped down from the business in March 2022 after more than three decades as McColl’s scrambles to secure fresh investment
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Retail Navigator Analysis
McColl’s (People)
CEO Jonathan Miller stepped down with immediate effect in March 2022 and has been replaced at the helm on an interim basis by former COO Karen Bird.
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Retail Navigator Analysis
Stores at McColl’s
The store base is heavily skewed towards convenience stores, with McColl’s operating around 1,200 c-stores. The group is set to shift further towards the convenience sector as it aims to achieve an optimal estate, which will involve the closure of smaller, newsagent stores in favour of larger, convenience-focused stores.
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Retail Navigator Analysis
Technology strategy at McColl’s
Technology plays a key part in McColl’s strategic change programme with a focus on improving the retailer’s operating model to better serve its customers.
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Retail Navigator Analysis
McColl’s (Financials)
McColl’s sales returned to modest growth but profits continued to come under pressure in 2020 as the pandemic impacted shoppers’ spending habits. Total sales increased 3.2% to £1.26bn, which reflected strong demand for convenience, but was offset by divestments and store-restructuring programme.
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Retail Navigator Analysis
Ecommerce at McColl’s
While it does not have a transactional website, McColl’s has recognised the importance of being able to provide ‘last mile’ online delivery. It has made initial inroads into offering consumers an ecommerce option through partnerships with third party delivery apps and it also said in its FY2020 preliminary results that it is building its own online platform.
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Retail Navigator Analysis
Customer and marketing at McColl’s
McColl’s aim is to be the convenience store of choice for everyone living within half a mile of one of its shops. Its marketing is primarily locally focused and product based with special promotions aimed at driving footfall and sales.
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Retail Navigator Analysis
Supply chain at McColl’s
McColl’s has no warehousing and distribution operations of its own, choosing instead to work with a small number of carefully selected suppliers and distributors. All suppliers deliver their stock directly to stores, removing the need for McColl’s to have its own warehousing and distribution network.
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Retail Navigator Analysis
McColls (Outlook)
There could be turbulent times ahead at McColls, with the retailer having issued a number of profit warnings in 2021. And with speculation mounting in early 2022 that it was battling to stave off administration, boss Jonathan Miller stepped down abruptly towards the end of March.
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News
McColl’s profits slide as Morrisons partnership extended
McColl’s has recorded a decline in profits as the pandemic altered its shoppers’ spending habits.
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News
Morrisons extends deal with McColl’s as conversion plans ramp up
Morrisons has extended a wholesale partnership with convenience store group McColl’s, which will convert more of its stores to the Morrisons Daily format.
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News
McColl’s to hang on to rates rebate as Covid costs outweigh savings
C-store retailer McColl’s is set to keep the business rates rebate it was given by the government in March as its chief executive says Covid-related costs have since outstripped the money saved.
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News
McColl’s slips to half-year loss as sales edge down
McColl’s profits and sales dipped slightly at the interim mark, although like-for-like sales during lockdown grew due to the “extraordinary changes” in customer behaviour driven by the pandemic.
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News
McColl’s appoints new chief financial officer as it bolsters board
McColl’s has made new appointments to its executive and non-executive board including Giles David as chief financial officer.
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News
Holland & Barrett poaches McColl’s finance boss
Holland & Barrett has snapped up McColl’s chief financial offer Robbie Bell for the same role.