THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Omnichannel Futures 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
B&M posts drop in first quarter sales

B&M has seen its first quarter group revenue decline by 2.2% to £1.16 billion on a constant currency basis. However, sales were up 3.1% in the… View Article

GENERAL MERCHANDISE NEWS

B&M posts drop in first quarter sales

B&M has seen its first quarter group revenue decline by 2.2% to £1.16 billion on a constant currency basis.

However, sales were up 3.1% in the 13 weeks ending 25 June compared to the corresponding period two years ago.

In the retailer’s core B&M UK fascia, like-for-like revenue declined by 9.1% year-on-year due to exceptionally high sales in April 2021 distorting comparatives.

While one-year like-for-like revenues dropped by 19.1% over the five week trading period of April 2022, revenues were down by just 1.6% in  the subsequent eight weeks.

B&M said its Heron Foods business performed consistently well throughout the quarter and ahead of internal expectations. Revenue at the business rose to £113 million from £102 million in the first quarter of the prior year.

Meanwhile, revenue at B&M’s business in France climbed to £91 million from a previous £68 million following a strong performance in the gardening and leisure categories.

During the period, B&M launched an online trial in the UK which now has around 1,000 SKUs available for delivery to customers’ homes.

B&M said it is making no change to its guidance issued on 31 May for the full year and that group adjusted EBITDA is expected to be in the range of £550 million to £600 million.

Subscribe For Retail News