Tuesday, 11 December, 2018


B&M emerges as Christmas victor

B&M store B&M emerges as Christmas victor
Conrad Doyle | 13 January, 2018, 03:50

In its United Kingdom market, sales shot up by 12.9 per cent to £837.3 million with like-for-like sales up by 3.9 per cent.

B&M posted a 22.7% rise in sales to £969.8mn in the 13 weeks to December 23, with like-for-like sales growing 3.9%.

While this does represent a slowing of growth from the first half rate, the strong performance builds on last year's strong third quarter comparator, when United Kingdom like-for-likes shot up 7.2%.

B&M, the bargain retailer, saw its share price rise nearly 3% in early morning trading on the back of record Christmas trading numbers.

The group, which has 30 outlets in the North, said that the stellar performance reflects its new store opening programme, with 19 outlets added in the period.

B&M posted a 23% increase in group sales to £970m in the three months to 23 December, up from 20.5% growth in the same period past year, with Heron contributing £80m of revenue.

The company's German business, Jawoll, also saw revenue increase, with growth of 10.4% in sterling terms.

Co-founder and chief executive, Simon Arora, said: "B&M continues to go from strength to strength".

Bryan Roberts, global insights director at TCC Global said B&M's success was at the expense of the big four supermarket chains which all lost market share over Christmas.

Analysts at Shore Capital said: "B&M Retail is another victor for Christmas 2017".

Liberum Capital, a buyer with a 475p price target, sees this 'as a very solid update and a strong performance against tough comparatives.

B&M said the strong like-for-like performance was driven by the "robust" performance of its grocery and FMCG ranges, improvements to store standards and its "value" offer.

'We expect organic growth combined with the ongoing store roll-out to support long-term double-digit growth across the United Kingdom and in Germany.

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