B&M shuffles leadership as profits plummet over 30%

B&M has announced a raft of leadership changes as it saw its operating profit fall 31.5% to £177m, down from £258m, for the 26 weeks ended 27 September 2025.

Furthermore, the company saw its adjusted EBITDA fall 30.2% to £191m, down from £274m in the previous year. Despite this, the company did see its revenues rise 4% to 32.75bn.

As a result, the company announced the appointment of Simon Hathway as its new group trading director. Hathaway brings significant retail experience, including as buying and
merchandising director at Action Holding B.V.

The company has also appointed Helen Cowing as interim chief financial officer, who has previous CFO experience from companies including Selecta Group, FatFace and Mobico Group.

Finally, B&M confirmed that it was bringing responsibility for supply chain and retail operations under the remit of supply chain director Jon Parry. It also revealed that Gareth Bilton, Mike Schmidt and James Kew had departed the company.

CEO Tjeerd Jegen said: “Our Back to B&M Basics plan is progressing and we are taking decisive actions to improve our retail execution and restore our financial performance. While the full financial benefits will build over time, I am confident our actions can restore sustainable like-for-like sales growth at B&M UK, which is our number one priority and, in the medium term, low double-digit UK adjusted EBITDA2 margins as an outcome.

“In the meantime, our store presence in the UK and France continues to expand, supporting group revenue growth as we reach new customers and support them in these uncertain economic times.”