McColl’s reports sharp drop in revenue, but good progress on Morrisons Daily stores

This represents a drop from £1.25bn in 2020 against £1.11bn this year. Both figures are for the 12 months to 28 November.

Despite the fall in revenue compared to 2020, the group still had sales 9.1% up on revenue two years ago, before the pandemic.

Jonathan Miller, chief executive, described 2021 as a tough year “starting with the impact of Covid-19 restrictions and ending with the widely reported and ongoing supply chain challenges”.

He added: “Despite this, we have made excellent progress on the strategic initiatives which are firmly within our control, including the accelerated roll-out of Morrisons Daily conversions, which is ahead of our expectations.”

McColl’s reported 185 Morrisons Daily stores trading at the end of November, with 154 of those conversions completed in this year.

It has increased its target for future conversions from 350 to 450 stores by the end of 2022.

Miller said: “In less than a year’s time we expect over half our revenues to be delivered by this fascia, bringing branded supermarket-quality convenience to our customers.”

McColl’s added that its partnership with Uber Eats was also going well, with 400 stores now involved.

A store selling programme as part of a rationalisation is now “largely complete” with 100 stores sold during the year.