B&M like-for-like sales rise 4.5% in run-up to Christmas
Discount chain B&M European Value Retail enjoyed strong trading in the run-up to Christmas with UK like-for-like sales increasing by 4.5%.
In the 13 weeks to 27 December, group sales climbed by 28.8% to £527.9 million while sales in the UK rose by 20.5% to £493.8 million.
After opening 24 new stores in the period, B&M had a total 417 stores trading at the end of December. The retailer expects to open at least 50 net new stores in the UK in the current financial year, and has a pipeline of at least 45 new stores across the UK for the following year.
Simon Arora, B&M chief executive, said: “The group’s third quarter trading performance has been pleasing despite the competitive market. Our Christmas Decoration and Gifting ranges enjoyed a good rate of sell-through and we believe we are becoming a destination store for these important seasonal categories.
“The 44 new stores opened by the end of the third quarter have also traded well over their first Christmas season. We expect to meet market expectations of revenue and profit growth in our maiden year as a quoted company.”
