B&M sees Q3 revenues hit £1.56bn
The B&M UK revenues also included £10.7m of wholesale revenues, down from £12.7m last year
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Variety goods retailer B&M has announced Q3 revenues of £1.56bn, up from £1.39bn compared with last year, a 6% increase like for like.
It said the strong revenues were driven by its UK dealings with B&M UK accounting for £1.3bn. B&M France had revenues of £136m and its other company Heron Foods made £129m.
The B&M UK revenues also included £10.7m of wholesale revenues, down from £12.7m last year.
The company also opened 23 new stores between Q3 FY23 and Q3 FY22. This included 12 new UK stores, six new French stores and five Heron Foods Stores.
The retailer stated that its adjusted EBITDA for the full year is expected to be in the range of £560m to £580m, ahead of current analysts’ consensus estimate of £557m.
CEO Alex Russo said: “Our strong momentum throughout the Golden Quarter across the businesses demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail execution.
“Despite the challenging macroeconomic environment, we will continue to work hard to help both existing and new customers manage the cost-of-living crisis. The business has exited the quarter well and will remain focused on disciplined execution.”
