StockMarketWire.com - Convienience store group McColl's Retail said it expected its annual earnings to come in slightly below expectations, due to unseasonable weather and weaker consumer confidence in the second half.

Adjusted operating earnings for the year through 24 November were expected to be £32m.

Revenue was seen falling 1.9%, reflecting store divestments, while like-for-like sales would be flat.

'While 2019 has been another challenging year for the business, we have made good progress against our goals of operational stability and good retail execution,' chief executive Jonathan Miller said.

'The fundamentals of the convenience channel are strong and we remain a resilient, profitable and cash generative business.'

'We are confident in our plans to rebuild momentum in 2020, and look forward to providing a fuller strategy update at our preliminary results in February.'



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