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B&M grows full year sales and profit

B&M has increased both its sales and profits in the year to 25 March as it continues its rapid store expansion programme. Group revenue climbed by… View Article

GENERAL MERCHANDISE

B&M grows full year sales and profit

B&M has increased both its sales and profits in the year to 25 March as it continues its rapid store expansion programme.

Group revenue climbed by 19.4% to £2.4 billion as UK like-for-like sales grew by 3.1%. Pre-tax profit increased by 18.4% to £182.9 million.

During the year, B&M opened 53 new stores in the UK, including 9 relocations to large, modern Homestores, and 19 new stores in Germany. With a pipeline of 40-50 new stores planned in the UK in the current financial year, B&M has revised its UK store target from 850 to at least 950 stores.

Sir Terry Leahy, B&M chairman, said: “B&M has delivered further strong increases in sales, profits and cash generation whilst pushing on with rapid store expansion in line with our strategy for growth.

“There was a robust return of trading momentum during the second half which has continued into the early weeks of the new financial year, affirming that B&M’s offer resonates well with customers during a period of economic uncertainty and profound structural change in retailing.”

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The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
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5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
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