B&M first quarter sales boosted by drier weather
B&M has seen its group revenue increase by 4.4% in its first quarter following growth from new space and a good like-for-like performance in the UK and France.
In the 13 weeks to 28 June, B&M UK like-for-like sales rose by 1.3% with total revenue up 4.7% as general merchandise outdoor ranges were boosted by the period’s drier weather and Easter timing. The retailer’s toy and DIY categories also performed well, despite deflation in average selling prices.
Meanwhile, sales at B&M France edged up 1.1% on a like-for-like basis as total revenue grew by 7.6%.
Tjeerd Jegen, B&M chief executive, said: “My early days spent listening to and learning from our passionate colleagues and customers have underlined for me the strength of our value-focused model, which is more crucial than ever in the current challenging economic climate.
Subscribe to TRB“While B&M UK’s like-for-like sales are growing, I see a significant opportunity and requirement to sharpen our commercial and operational execution as we move towards and beyond the Golden Quarter.”
B&M has recently seen its Ellesmere Port import centre commence operations and the retailer will soon begin the planned relocation of its Middlewich distribution centre ahead of a lease expiry in August next year.
Jegen added: “Looking ahead, my focus is on building on our strong foundations, leveraging our market position, and continuing to deliver exceptional value for our customers.”
