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B&M ‘delighted’ with third quarter performance

B&M has grown its third quarter UK sales by 12.9% to £837.3 million with like-for-like sales up by 3.9%. The company’s Heron store estate contributed £79.8… View Article

FASHION

B&M ‘delighted’ with third quarter performance

B&M has grown its third quarter UK sales by 12.9% to £837.3 million with like-for-like sales up by 3.9%.

The company’s Heron store estate contributed £79.8 million of revenues in the period.

B&M said the strong like-for-like performance was driven by the “robust” performance of its grocery and FMCG ranges, operational improvements to store standards and its “value” offer.

In the 13 weeks to 23 December, group sales increased by 22.7% on a constant currency basis. On an actual currency basis, total sales climbed by 22.9% to £969.8 million.

At the end of the quarter, the UK business was trading from 569 B&M stores and 263 Heron stores. B&M also operates 84 stores in Germany under the Jawoll fascia.

Jawoll’s sales rose by 8.2% on a Euro basis in the period which equated to an increase of 10.4% in Sterling to £52.7 million.

Simon Arora, B&M chief executive, said: “B&M continues to go from strength to strength. Despite the demanding comparatives from the very strong Christmas in 2016, our buying, supply chain and retail teams achieved another outstanding performance this year by doing what we do best, which is delivering great value for customers week-in, week-out.

“With Heron also performing well and Jawoll having a solid quarter, I’m delighted with our progress.”

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