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McColl's Like-For-Like Sales Fall As P&H Bankruptcy Still Hurts

Published on Sep 4 2018 9:35 AM in Retail tagged: Trending Posts / McColl's / Palmer & Harvey / Quarterly Sales

McColl's Like-For-Like Sales Fall As P&H Bankruptcy Still Hurts

British convenience retailer McColl's Retail Group Plc posted on Tuesday lower like-for-like sales in the third quarter and said the collapse of cigarette wholesaler Palmer & Harvey (P&H) last year continued to disrupt its supply chain.

Like-for-like sales fell 0.9% for the 13 weeks ended 26 August at McColl's, which trades from about 1,600 convenience stores and newsagents in Britain. Total revenue rose 0.6% in the quarter.

New Partnership

McColl's, which had entered a new supply partnership with WM Morrison Supermarkets to supply tobacco to stores hit by the P&H bankruptcy, said transition of 1,300 stores to the new supplier had been completed ahead of schedule.

"With our new supply chain partner in place, we can refocus on day-to-day operations, including improving availability and rebuilding trade in those stores most affected by the disruption," Chief Executive Officer Jonathan Miller said on Tuesday.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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