Community focus pays off for McColl’s
Convenience store operator McColl’s is cashing in on a UK shopping revolution as consumers shun big supermarkets in favour of smaller local shops.
The chain, which has 750 convenience stores and 540 newsagents, said it was benefiting from a growing trend of shopping close to home not at out-of-town stores.
It is focusing on setting up in housing estates, improving its product ranges and offering extra services such as post office counters.
“We site our stores in neighbourhoods as opposed to high streets,” chief executive James Lancaster said.
The group plans to acquire extra shops and convert more of its newsagents, which trade under the Martin’s brand
McColl’s lifted total sales by 3.6 per cent to £444.2million in the 26 weeks to May 25 while like-for-like sales rose 2.1 per cent. Underlying profits rose 10.9 per cent to £15.9million.
The group plans to acquire extra shops and convert more of its newsagents, which trade under the Martin’s brand, to give it 1,000 convenience stores by the end of 2016.
Chief operating officer Martyn Aguss is quitting for personal reasons and operations director Dave Thomas will replace him.
Shares in McColl’s, which listed on the stock market in February at 191p a share, rose 2p to 170p.
