THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omni Channel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
B&M posts first half profit drop but makes good start to golden quarter

B&M has seen its first half pre-tax profit decline to £201 million from £241 million in the previous year but has reported making a good start… View Article

GENERAL MERCHANDISE

B&M posts first half profit drop but makes good start to golden quarter

B&M has seen its first half pre-tax profit decline to £201 million from £241 million in the previous year but has reported making a good start to its golden quarter.

In the six months to 24 September, revenue climbed by 1.8% on the prior 12 months to £2.309 billion.

While B&M’s UK sales dipped by 0.9% year-on-year in the period with like-for-like revenue decreasing by 3.9%, sales in France rose by 18.2% There was also a 14.6% sales uplift at B&M’s Heron Foods business.

B&M said it is trading well into the first six weeks of its golden quarter with like-for-like sales at B&M UK up 2.5% in the run-up to Christmas. This represents a significant increase in total sales over pre-Covid levels despite difficult trading conditions.

Alex Russo, B&M chief executive, said: “Sales momentum is good as we enter a difficult period for the economy and consumers. Our value-based approach is winning with existing and new customers, and we will do our very best to help them weather the cost-of-living crisis. We are well positioned as we trade through the golden quarter and our strategy remains unchanged – a relentless focus on price and product.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News