News

Sales surge at B&M

Published on: January 12th, 2018

Sales soared in the run-up to Christmas, as revenues were bolstered by cheap food and new stores, plus the acquisition of grocery chain Heron Foods.

Group sales climbed 23% to £970m in the three months to 23rd December, up from 20.5% growth in the same period last year, with Heron adding £80m to the top line.

Sales at UK stores open more than one year were up 3.9%, which B&M said underlined “continued robust performance of our grocery and FMCG ranges”. However, it marked a slowdown from the 7.2% like-for-like growth it recorded in the same period last year.

B&M opened 19 UK stores in the period, taking its total to 569. It bought Heron, which has 263 stores and sells mostly frozen and other non-fresh food, for £152m in August.

Chief executive Simon Arora, who co-founded the company with his brother Bobby, said it “continues to go from strength to strength”.

He commented: “Despite the demanding comparatives from the very strong Christmas in 2016, our buying, supply chain and retail teams achieved another outstanding performance this year by doing what we do best, which is delivering great value for customers week-in, week-out.”

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