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High StreetSupermarkets

B&M revenues surge during first quarter

Discount retailer B&M has posted a revenue growth of 13.8 in Q1.

Revenue relating to the period from 31 March 2019 to 29 June 2019 was £738.9m, compared with £649.2m for the same period last year. Group revenue, which includes brands Heron Foods, Jawoll and Babou increased by 21.4% to £967.7m.

The retailer has opened 12 new stores this quarter, ‘on track’ for its target to open 45 stores this year.

Simon Arora, CEO of B&M, said: “The group has made a solid start and we are on track with our plans for the year as a whole, with a strong performance in the B&M UK business and continued implementation of our planned change programmes in Germany and France, with a continued focus on resolving the warehousing and logistics challenges in Jawoll.

“B&M had its third consecutive record Easter trading period with sales of seasonal products and homewares performing particularly well and Heron Foods has traded solidly too. The transitional changes to the product offers in Jawoll and Babou are now taking shape, as we apply the B&M model to those businesses. We look forward to the remainder of the year with confidence.”

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