July 23, 2018 / 6:29 AM / 5 months ago

McColl's like-for-like sales drop on Palmer & Harvey bankruptcy

July 23 (Reuters) - British convenience retailer McColl’s on Monday posted a 2.7 percent drop in like-for-like sales for the first half, as supplies were hit after the collapse of UK cigarette wholesaler Palmer & Harvey (P&H) last year.

Total revenue, however, rose 19.2 percent to 601.7 million pounds ($790.45 million) for the 26 weeks ended May 27, as it bought about 300 convenience stores in 2017. ($1 = 0.7612 pounds) (Reporting by Arathy S Nair in Bengaluru Editing by Saumyadeb Chakrabarty)

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