Ampol pulls the plug on MetroGo rollout
Published on: Aug 22, 2023
The retailer has agreed with Woolworth to not proceed with the further rollout of the format after registering a 26% drop in profits for the first half of the year.
Ampol will not proceed with the further rollout of its MetroGo sites, the convenience store format of the Woolworths retail brand. The decision comes after registering a 26% drop in profits revealed by its mid-year review.
According to a report by local news site Convenience and Impulse Retailing, this fall is linked to the firm’s earnings from its Lytton refinery. Although the convenience retail arm of the company has remained strong throughout the year, it has declared that it has agreed with Woolworths to not proceed with a broader rollout.
After the review of the 50 MetroGo locations that were part of the pilot project, the existing stores will be rebranded to Foodary over the coming months. The retailer has stated that this outcome provides more flexibility for its entire network as it aims to develop the next stage of its retail strategy.
Local media outlet has published that Ampol’s earnings in convenience retail were up 31% as of June 30, growing to $167.1 million from $127.3 million in the previous corresponding period. In addition, the brand is also intended in taking “a more tiered approach” to its Foodary offer with the goal of “unlocking the potential of quick service restaurants.”
