Discount retail giant sees group sales of nearly £1 billion

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B&M

B&M has announces ‘strong’ sales of nearly £1 billion

B&M European Value Retail, the company behind B&M has hailed ‘strong’ third quarter results.

The parent of the discount retail giant saw group sales nearing £1 billion.

The group, headquartered in Liverpool, turned over £969 million in the 13 weeks to 23 December 2017 compared to £789 million for the same period in 2016.

Simon Arora, chief executive, said: “B&M continues to go from strength to strength.

“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.

“With Heron also performing well and Jawoll having a solid quarter, I’m delighted with our progress and on behalf of the board I would like to thank all of our colleagues for their hard work and commitment.”

In its financial year-to-date, the group has generated revenues of £2.32 billion, a rise from £1.89 billion reported at the same time last year.

B&M operated from 569 stores at quarter-end and opened 19 stores during the period. Heron had a 263 strong estate and launched four new branches.

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