THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
B&M hails year of strong progress

B&M European Value has said it made strong progress in the year to 26 March with group revenues increasing by 23.6% to £2.0353 billion.

GENERAL MERCHANDISE

B&M hails year of strong progress

B&M European Value has said it made strong progress in the year to 26 March with group revenues increasing by 23.6% to £2.0353 billion.

Adjusted pre-tax profit climbed by 19.5% to £161.4 million while UK like-for-like sales rose by 0.3%.

Sir Terry Leahy, B&M chairman, said: "B&M has delivered another year of strong progress with the implementation of our strategy for growth and an excellent financial performance in terms of overall sales, profits and cash generation. Our expansion strategy is on track to deliver further growth during the year ahead in our chosen markets.”

The company opened a record 79 UK stores in the year to take the total to 499 at the end of March. B&M now regularly serves 3.3 million customers on average each week compared to 2.6 million at the time of its IPO in June 2014.

It is now planning to open 50 net new stores in the UK and around 19 in Germany. In addition, B&M opened two new UK distribution centres in September 2015 to support the continued store growth.

Simon Arora, B&M chief executive, said: “Whilst we are mindful that the general economic outlook is uncertain, and the market remains fiercely competitive, we have made a solid start to the new financial year. We believe our unique business model places us in a strong position and we look forward to the year ahead with confidence.”

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

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
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
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019