THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
Omnichannel Futures Conference 2020
Online Conversion Summit 2020
Future of Retail Marketing 2020
The HR Summit 2020
AI in Retail Conference 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
B&M posts strong uplift in sales and profit

B&M has increased its full year pre-tax profit by 10.3% to £249.4 million as its continues its store expansion programme. Group revenue climbed by 17.1% to… View Article

GENERAL MERCHANDISE

B&M posts strong uplift in sales and profit

B&M has increased its full year pre-tax profit by 10.3% to £249.4 million as its continues its store expansion programme.

Group revenue climbed by 17.1% to £3.5 billion in the year to 30 March following revenue growth of 8.7% in the UK, which was mainly driven by new store openings. Meanwhile, like-for-like sales at the UK stores edged up 0.7% in the period.

In Germany, where B&M operates its Jawoll stores, revenue grew by 6.7% to £213.7 million, despite the performance being hampered by clearance of obsolete stock to make way for new ranges and more products sourced through B&M’s supply chain. 

Simon Arora, B&M chief executive, said: “B&M has again delivered strong results against the challenging backdrop of continued structural change in our industry, rising costs and uncertain times for consumers, demonstrating that its value credentials remain as resonant as ever with customers, whether they need a bargain or just enjoy one. 

“We have made important progress in establishing platforms for further long term expansion in both Germany and France although there is much work to be done to implement the disruptive, value-led B&M model in these large new markets.”

The company said it had made a “pleasing” start to the first quarter of the new financial year and that the B&M fascia had delivered its best-ever Easter trading season.

Arora added: “We enter the new financial year with renewed trading momentum particularly in the UK, a high quality new store expansion programme in place, and investing in our new infrastructure to support future growth. I’m confident B&M is well-positioned to deliver further strong progress in the current year and beyond.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Online Conversion Summit 2020
Online Conversion Summit 2020
April 30 2020
The Hallam Conference Centre, London W1W 6JJ
The Retail Bulletin Online Conversion Summit 2020 Partnered by IMRG
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, 44 Hallam St, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
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 2020
AI in Retail Conference 2020
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY