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B&M posts strongest UK like-for-like growth in three years

Published on: July 13th, 2017

Company has reported growth in revenue in first quarter of financial year.

Revenue in the three months to the end of June rose by 18% to £656.3 million from £554.8 million the year before, boosted by 7.3% growth in UK like-for-like sales.

B&M said revenue was buoyed by strong sales of grocery, garden and outdoor living products, and good weather in the UK, while the later Easter this year added around 1.0% to like-for-likes.

Nine new B&M stores were opened in the UK in the quarter and four new Jawoll stores were opened in Germany.
B&M said the second quarter has started well and that it is on course to achieve market expectations for full-year profit.

Simon Arora, chief executive, commented: “This quarter’s like-for-like growth represents B&M’s strongest first quarter for three years. It’s driven by customers, wherever they live throughout the regions, becoming ever more receptive to the outstanding value delivered by B&M’s unique business model in relation to the things they buy regularly for their homes and families.”

Simon also reaffirmed his belief that Brexit could have a positive impact on B&M’s business by attracting more shoppers, adding: “In these uncertain times, and with inflation returning to the UK market, more and more shoppers are actively seeking out value in our stores and that means our business is strongly positioned to do well and continue its rapid growth.”

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