One Stop has fallen into the red as like-for-like sales at the Tesco-owned convenience retailer tumbled by 2.5%.
Total sales edged down slightly by 0.2% to £1.3bn in the year ended 22 February 2025, according to newly filed accounts on Companies House.
One Stop, which operates 730 c-stores in the UK, also fell from an operating profit of £21.4m in the previous financial year to a loss of £1.4m. The accounts said the loss was caused by a £25.6m impairment charge as it wrote down the value of assets.
One Stop’s franchise division, which grew from 317 to 354 stores in the year, achieved an operating profit of £2.9m.
Directors said they remained committed to building a business that helps independent retailers grow their business and develop the franchise model to benefit the franchisees and company.
“Throughout the year, the board has continued to track the financial business impact of the heightened level of geopolitical uncertainty with particular focus on cost of living and government restrictions,” the retailer said in the accounts.
“These impacts also result in an increase in operations costs for the company as well as its suppliers.”
One Stop declined an opportunity to comment.
The company, meanwhile, continued its pledge to serve local communities, donating £900,000 to charities during the year. Through its partnership with FareShare and local food banks, its “generous” customers and colleagues also enabled One Stop to donate over one million meals.
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