29th Nov 2021 15:14
(Alliance News) - McColl's Retail Group on Monday announced plans to extend its Morrisons Daily stores from 350 to 450 within the 12 months.
The convenience store and newsagent operator said it expects to complete all 450 conversions by the end of November 2022. This exceeds its previous target of 350 within the same time frame.
The announcement comes as part of an agreement with Wm Morrison Supermarkets that will see the Daily stores generate over half of McColl's sales and represent more than a third of its total community stores.
"These stores have a higher grocery mix and wider breadth of product choice which is great for our customers, and with strong sales growth and better return on investment, it is great for the Company too. We look forward to continue working closely with Morrisons in the years ahead," Chief Executive Jonathan Miller said.
Shares in McColl's were up 1.7% at 12.20 pence on Monday in London.
By Heather Rydings; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Mccoll's