McColl’s has recorded a 2.2% fall in third-quarter like-for-like sales with the convenience store operator blaming a “highly unseasonable summer” and “ongoing macroeconomic uncertainty”.
Total revenue in the 13-week period to 25 August slipped 3.6% amid the challenging trading conditions and poor weather compared to last year’s prolonged heatwave.
In its year to-date, McColl’s like-for-likes were down 0.1%, with total revenue falling 1.2% after a reduction in its store base as part of moves to “optimise the estate”.
The group highlighted progress in a number of areas aimed at stabilising the business and improving operations. A programme of range reviews continued, with it recently relaunching its soft drinks category. McColl’s claimed that further improvements had been made to on-shelf availability, whilst it continued to invest in its estate with four new store openings.
McColl’s Chief Executive Jonathan Miller commented: “The fundamentals of the convenience channel are strong and our focus remains on good retail execution whilst maintaining strong capital discipline. We continue to make operational progress and we anticipate results in line with expectations for the full year.”
NAM Implications:
- All depends on how your business through McColl’s compared in the same periods…
- Giving you the opportunity to optimise any overtrading…
- …whilst resisting any impulse to obsess re the downsides.
