B&M reports “pleasing” golden quarter performance
Value retailer B&M has posted a 5% increase in group revenue to £1.645 billion in its golden quarter.
In the 13 weeks to 23 December, sales at B&M and Heron Foods in the UK rose by 3.7% and 11.7% respectively. In addition, B&M UK like-for-like revenue grew by 1.2% in the 14-week period to 30 December to mark a strong performance given prior year comparatives.
Meanwhile, sales at B&M’s business in France increased by 11.3% across the 13 weeks.
Alex Russo, B&M chief executive, said: “The performance across the golden quarter has been pleasing, with strong operational execution
across the three businesses.
“Our strategy remains unchanged – we are an everyday low-price discounter with a laser focus in keeping excellence in retail standards and our costs the lowest.”
The group has reiterated its guidance for full-year group adjusted EBITDA (pre-IFRS 16) of between £620 million and £630 million, This compares to £573 million in the prior year.
