McColl’s hits £1bn sales

MCCOLL’S has achieved landmark sales of £1bn for the first time after buying former Co-op stores.

the convenience store and newsagent chain bought 298 stores from the Co-op in mid- July. the purchase made McColl’s a much larger company, boosting revenue by 19pc to more than £1bn in the year to november 26. the retailer said sales in stores they already owned were up slightly by 0.1pc, dragged down by revenue in its newsagents’, which was 0.2pc lower.

McColl’s expects to enjoy further growth as it prepares to sell hundreds of Safewaybranded products from January after an agreement with Morrisons, which owns the Safeway name.