McColl’s Retail Group has agreed terms with Morrisons to extend the number of Morrisons Daily conversions from 350 to 450 stores.
The retailer expects to complete all 450 conversions by the end of November 2022, compared to its previous target of 350 in the same timeframe.
In addition, Morrisons is extending its support and increasing its contribution to the enlarged conversion programme.
Jonathan Miller, Chief Executive of McColl’s, said: “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. 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.”
McColl’s said discussions with its lending bankers are ongoing and are expected to conclude by the publication of its full year results in March 2022.
The retailer opened its 100th Morrisons Daily store last month in Cheshire – two months ahead of schedule.