B&M revenues grow 13.5% in Q1
The group also achieved like-for-like sales growth of 9.2% during Q1, with both grocery and general merchandise categories having performed ‘very’ well
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B&M has announced a “strong and profitable” trading momentum across the whole business over the 13-week period from 26 March to 24 June, as total group revenues grew 13.5% in line with expectations.
The group also achieved like-for-like sales growth of 9.2% in Q1, with both grocery and general merchandise categories having performed “very” well.
The group has attributed its success over the quarter to general merchandise sales participation by more people, which caused sell-through across the group to have been “excellent”.
In addition, the group’s stock and cost disciplines remain “firmly” embedded across the group.
Alex Russo, chief executive of B&M, said: “Our strong trading momentum demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail standards.
“The business is well positioned as we start to transition to our autumn winter season. We will continue to work hard to help all our customers manage the cost-of-living crisis.”
B&M’s interim financial results for the 26 weeks ending 26 September will be released by the group on 9 November.
