McColl’s reported a strong final quarter after turbulent year

McColl's Retail has reported a “strong final quarter” following an overhaul of its operations.

Total sales grew 2.7% in past weeks, according to The Telegraph after converting its newsagents into food and wine outlets and modernising its convenience store estate, with the goal of having 1,000 convenience stores.

McColl's shares suffered a 10% slump earlier in the year on the back of its first annual results as a public company. Its shares are now trading at 134 pence, down from 191 pence when it floated in the beginning of 2014.

Chief executive James Lancaster, said: "I am delighted to report significant progress on our strategic initiatives for the financial year, continuing our expansion into convenience and capturing further market share.”