McColl’s basks in a sales surge as Brits break out the booze

Brits boozing in the sun helped sales sizzle over the summer for convenience stores group McColl’s.

Same-store were up 1.4% in its second quarter thanks to warm weather, against a rise of just 0.2% across the whole of the first half, it revealed today.

“We have traded well in a challenging environment and also benefited from the recent hot weather, which has helped to drive sales in key growth categories including grocery and alcohol,” said chief executive Jonathan Miller.

Revenues rose 8% to £505 million in the first half, though pre-tax profits almost halved to £4.5 million after it snapped up nearly 300 stores from the Co-op.

It confirmed that it has now taken charge of all the stores.

McColl’s said consolidation would continue in the wholesale sector. It comes after its Co-op deal, Tesco’s £3.7 billion takeover of Booker, and amid speculation Sainsbury’s is eyeing a deal to buy Nisa.

It also warned that Brexit and the election outcome continue to weigh on consumer sentiment, while it saw “a small amount of inflation” in the first half of the year.