McColl's announces a "difficult year."
A difficult year for McColl's
Talking Retail & Convenience Store report that Jonathan Miller, CEO of the McColl's retail Group described 2018 as “a very difficult year” for the company marked by unprecedented supply chain disruption and on-going challenges. He was announcing a trading update for the 13 and 52-week periods ending 25thNovember 2018. Total revenue was up by 8.3% but down by 0.5% in the most recent quarter. Like for like sales were down by 1.4% and the Safeway own label project through Morrison's wholesale arm is proving troublesome. Shares were marked down on the news of a profit warning.
Tobacco track & trace progressing
Convenience Store reports that plans to launch the new tobacco track & trace system to help bear down on illicit stock are now moving forward as HMRC has appointed the UK’s ID issuer. They will be responsible for sending retailers the new codes they will need in order to purchase tobacco legally from 20thMay 2019.
Christmas dinner to cost more
Linked In reports that Christmas dinner is set to cost nearly 6% more this year than in 2017 due to the price of turkeys, Christmas pudding and sprouts. An annual survey by “Good Housekeeping” magazine found that even cheaper festive meals will cost £3.11 per head, up from £2.94 last year. This is blamed on extreme weather and a weakened pound.
Expansion for Budgens
Convenience Store reports that Budgens has recruited 70 stores in the past year and has expanded into 12 new counties according to brand director Mike Baker. He states that the Budgens estate now totals 250 sites.
Threat to low paid jobs
Linked In reports that the pressure on recruitment for low-skilled workers could do “massive damage” to communities. Carolyn Fairairn, head of the Confederation of British Industry (CBI) said that British firms struggling to fill low-skilled jobs should train British workers rather than hiring migrants. It has been suggested that immigrants earning less than £30,000 per year will have greater restrictions on them than higher paid earners.
Unitas aims to be more efficient
Convenience Store reports that Darren Goldney MD of newly formed buying group Unitas confirmed that all existing retail fascia’s from the two former (now merged) buying groups: Today’s, Day-Today and Lifestyle will be retained. A single core range will be drawn up under the existing “Plan for Profit” label.
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