McColl's Retail Group plc Q3 Trading Update (4696K)
29 Agosto 2019 - 08:00AM
UK Regulatory
TIDMMCLS
RNS Number : 4696K
McColl's Retail Group plc
29 August 2019
Convenience retailer McColl's Retail Group plc today announces
its third quarter trading update for the 13 week period ended 25
August 2019.
THIRD QUARTER TRADING UPDATE 2019
Financial and operational highlights:
-- Like-for-like (LFL) sales(1) down 2.2% and total revenue down
3.6% for the quarter, reflecting the challenging retail trading
environment and poorer weather across the summer
-- Year to date LFL sales down 0.1%, and total revenue down 1.2%
reflecting a reduction in the store base as we continue to reshape
and optimise the estate
-- Further progress on 2019 strategic priorities - stabilising
the business and operational execution:
- Programme of range reviews continues, most recently with the
relaunch of the soft drinks category
- Further improvement in on-shelf availability
- Continued investment in the estate with four new convenience stores opened in the quarter
Jonathan Miller, Chief Executive, said:
"As we outlined in our interim results, this has been a highly
unseasonable summer for the retail sector and our sales performance
reflects both this and the ongoing macro-economic uncertainty.
"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."
[1] Like-for-like sales reflect sales from stores that have
traded throughout the current and prior financial periods, and
sales include VAT but exclude sales of fuel, lottery, mobile phone
top up and travel tickets.
Enquiries
Please visit www.mccollsplc.co.uk or for further information,
please contact:
McColl's Retail Group plc Media enquiries:
Jonathan Miller, Chief Executive Headland
Robbie Bell, Chief Financial Officer Ed Young, Charlie Twigg
Naomi Kissman, Head of Investor Relations
+44 (0)1277 372916 +44 (0)20 3805 4822
Notes to editors
McColl's is a leading neighbourhood retailer, with an estate of
c.1,500 managed convenience stores and newsagents. We operate
McColl's 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. Our dedicated colleagues serve five
million customers every week, and we are the largest operator of
Post Offices in the UK, with c.600 in-store counters/branches.
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END
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