McColl's Retail downgrades earnings guidance as supply squeeze bites

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Convenience store group McColl's Retail downgraded its annual earnings guidance, blaming supply-chain challenges.

Adjusted operating earnings for the year through December were now expected in the range of £20 million-to-£22 million.

Supply-chain disruptions had intensified in the fourth quarter, the company said, driven by an ongoing nationwide shortage of delivery drivers, labour shortages at distribution centres and insufficient supply of key products.