McColl's Retail Group plc McColl's opens 100th Morrisons Daily store
October 12 2021 - 3:30AM
RNS Non-Regulatory
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McColl's Retail Group plc
12 October 2021
McColl's opens 100(th) Morrisons Daily store ahead of
schedule
12 October 2021 - McColl's Retail Group plc is pleased to
announce it has reached the strategic milestone of opening its
100(th) Morrisons Daily store, two months ahead of schedule.
The rollout of Morrisons Daily stores is a key component of
McColl's' strategic focus on food led convenience, driving
incremental sales and sales-mix improvement across the store.
The conversion of the McColl's store at Ellesmere Port (6
Cromwell Road) marked the 100(th) opening, giving local customers a
fantastic range of high quality fresh food and groceries, wider
product choice and better value, through new lines and Morrisons
own-label.
McColl's continues to roll out Morrisons Daily at pace, ahead of
the targets set at its capital raise earlier this year, with a
proven capability to implement six store conversions per week.
The Morrisons Daily conversions continue to deliver the
strongest performance across the business, with 2-3 year payback on
investment. McColl's expects to be operating 350 Morrisons Daily
stores across its total estate of c.1,200 stores by November
2022.
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.
"A massive thank you to the teams of both businesses who have
worked hard to deliver this number of store conversions in such a
short period of time, as we combine our key neighbourhood store
locations, strengths in convenience operations and expertise in
services, with Morrisons core grocery proposition."
David Potts, Chief Executive of Morrisons, said: "We are pleased
to have very quickly opened 100 Morrisons Daily stores with our
long term partner, McColl's. 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.
"It's been a very impressive collective effort by the McColl's
and Morrisons teams who have worked together so quickly and
effectively. We look forward to hundreds more Morrisons Daily
stores springing up across Britain."
- Ends -
Enquiries
For further information please contact:
Analysts & Investors: Tej Randhawa, McColl's +44 (0)1277 372916
Media: Ed Young, Headland +44 (0)203 805 4822
Rob Walker, Headland mccolls@headlandconsultancy.com
Charlie Twigg, Headland
About McColl's
McColl's is a leading neighbourhood retailer, with an estate of
over 1,200 managed convenience stores and newsagents. We operate
McColl's and Morrisons Daily branded convenience stores as well as
newsagents branded Martin's across the UK, except in Scotland where
we operate under our heritage brand, RS McColl.
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END
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