B&M reports sales increase of 22%

Discount retailer B&M has reported an increase in total sales of 22.7% on a constant currency basis, which were boosted by record Christmas trading.  

On an actual currency basis, total sales climbed by 22.9% to £969.8 million.

UK sales revenue for the B&M store estate in the 13-week period increased by 12.9% to £837.3m compared with £741.4m for 2016, with like-for-like sales also up by 3.9%.

B&M attributed the performance to the continuation of our their new store opening programme.  

They also said the strong like-for-like performance in the quarter reflects the continued robust performance of their grocery and FMCG ranges, further operational improvements to store standards for customers and the recognition of their value offer by consumers.

The Heron store estate contributed £79.8m and in Germany under the Jawoll brand sales rose by 8.2% on a euro basis in the period which equated to an increase of 10.4% in sterling to £52.7 million.

Simon Arora, chief executive of B&M, 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.

“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.”