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Convenience shop chain McColl’s gives profit warning amid supply problems
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The convenience shop chain McColl’s has warned that annual profits will be as much as £7m lower than expected as it struggles to source enough snacks, wine and beer.
The 1,200-store group, which runs more than 100 Morrisons Daily outlets as well as the McColl’s and Martin’s shop chains, said sales were “significantly lower” than initially anticipated, owing to shortages of delivery drivers, warehouse workers, and key products including highly profitable branded items such as crisps and alcoholic beverages.
Its shares sank 35% to a new low of 11.58p before recovering to 15p, still down nearly 17%, as it said underlying annual profits were expected to be as low as £20m, down from the £27m previously predicted.
Jonathan Miller, the chief
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