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B&M third quarter revenue up 22.5%

B&M grew its group revenue by 22.5% on a constant currency basis in its third quarter following a strong performance by its B&M stores in the… View Article

GENERAL MERCHANDISE

B&M third quarter revenue up 22.5%

B&M grew its group revenue by 22.5% on a constant currency basis in its third quarter following a strong performance by its B&M stores in the UK.

In the 13 weeks to 26 December, the  stores increased their revenue and like-for-like sales by 26.6% and 21.1% respectively. The company’s Heron Foods business also performed well with “solid” like-for-like sales growth.

Meanwhile, B&M’s Babou and B&M France revenues fell by 1.4%, due to local lockdown restrictions,

Simon Arora, B&M chief executive, said the company is awarding some 30,000 store and distribution staff an extra week’s wages in recognition of their efforts sduring the coronavirus pandemic

He added: “Our trading performance is testament to the hard work and commitment of all our colleagues, to whom I express my sincere thanks.

“Notwithstanding our status as an essential retailer, with lockdown restrictions in the UK having tightened there remain uncertainties ahead. With our combination of exceptional value and convenient out of town locations, we are confident that our business model will prove highly relevant to the needs of customers in 2021.”

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