McColl’s Retail has reached the milestone of opening its 100th Morrisons Daily store, two months ahead of schedule.
The roll-out of the Morrisons Daily format to its 1,200-strong estate store estate is a key part McColl’s’ strategy to focus on food-led convenience. The company recently raised around £30m through a share placing to accelerate the process, with it now hoping to have 350 Morrisons Daily stores operating by November 2022.
The conversion of a McColl’s outlet at Ellesmere Port marked the 100th opening, with the store benefitting from a wider product choice through new lines and Morrisons own-label.
McColl’s is aiming for six store conversions per week, with it seeing a 2-3 year payback on each investment.
Jonathan Miller, Chief Executive of McColl’s, said: “We are extremely excited to reach the milestone of 100 Morrisons Daily stores, giving customers access to a wider range of products, greater value and a supermarket-quality fresh food and grocery offer. We are redefining neighbourhood retail in the communities we serve, putting us in the best possible position to meet customer demand in the future.
“Alongside an enhanced customer offer, we have a proven store conversion blueprint that offers a strong return on investment, delivering double-digit sales uplifts and rapid payback.”
David Potts, Chief Executive of Morrisons, added: “The Morrisons Daily convenience format is proving popular with customers, and is a great way for us to broaden the reach of the Morrisons brand into more and more local communities.”
McColl’s told investors earlier this year that its partnership was unaffected by the takeover of Morrisons, highlighting that its wholesale contract was extended in February by a further three years to January 2027.
