McColl’s Retail Group said they have secured an agreement with Morrisons to extend the number of Morrisons Daily conversions from 350 to 450 stores.
The convenience store chain added that it expects to complete all 450 conversions by the end of November 2022, compared to its previous target of 350 in the same timeframe, with Morrisons increasing its contribution to the enlarged conversion programme.
“Within 12 months we will have 450 stores open and trading as Morrisons Daily, representing over a third of our total community store estate and over half of our sales,” Jonathan Miller, Chief Executive of McColl’s, said.
Last month, the group opened is 100th Morrisons Daily store, two months ahead of target. McColl's said the stronger revenue performance of Morrisons Daily stores, and a return on investment towards the shorter end of a 2-3 year payback range, have prompted its decision to broaden the format across its store estate.
“These stores have a higher grocery mix and wider breadth of product choice which is great for our customers, and with strong sales growth and better return on investment, it is great for the company too. We look forward to continue working closely with Morrisons in the years ahead,” Miller said.
Earlier in March, McColl’s has extended the existing supply partnership with Morrisons for a further three years to January 2027. At the time, the retailer was planning 300 Morrisons Daily conversions over the next three years.
