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McColls Still Has 'Much To Do' to Get Back On Track, Says Analyst

Published on Jul 23 2019 1:40 PM in Retail tagged: Trending Posts / UK / Shore Capital / McColl's / GlobalData / Paywall / Convenience Wholesale

McColls Still Has 'Much To Do' to Get Back On Track, Says Analyst

A leading retail analyst has said that UK convenience retailer McColls still has "much to do" to get back on track following a challenging 2018, after the business posted slight revenue growth in the first half of this year.

Greg Lawless of Shore Capital was commenting as McColls posted a 0.1% increase in revenue in the 26 weeks to 26 May, to £611.1 million (€678.9 million), while like-for-like sales were up 1.0%.

Last December, the business issued a profit warning ahead, amidst difficult trading conditions and supply challenges following the administration of the Palmer & Harvey wholesale business.

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