B&M

B&M secures three-year Bobby Arora commitment

B&M has announced that it has agreed a deal with group trading director Bobby Arora which will see him committed to the company until March 2026 at least. As a result of the deal Arora can receive a maximum bonus payout of £16m across the three year period depending on…

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B&M announces store reshuffle

Discount retailer B&M has announced that it is closing a number of stores over the next few weeks not for financial reasons but as part of a reshuffle of its store estate  According to The Mirror, the closures are due to some stores moving to bigger sites or other external…

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B&M sees Q3 revenues hit £1.56bn

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…

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B&M maintains FY23 outlook despite £40m profit drop

B&M has maintained its previous guidance for the full year (FY23) with group adjusted Ebitda expected to be in the range of £550m-£600m, as the company expects to retain customers due to the economic crunch. This comes despite a 16.7% drop in pre-tax profits year-on-year for the 26 weeks to…

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B&M confirms CEO departure date

B&M has confirmed that Alex Russo will succeed Simon Arora as group chief executive officer on 26 September, the commencement of the second half of its financial year. The takeover was first announced on 31 May 2022, after Arora had announced his intention to step down as CEO on 22…

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Outgoing B&M boss awarded £5m payout

The outgoing boss of B&M Simon Arora has become one of the highest earning CEOs in retail after earning £5m last year, according to the company’s annual report. Arora was paid a base salary of £810,000 and also received an annual bonus of £1.5m and a long-time share bonus worth…

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B&M appoints CEO successor as FY revenues dip

B&M has revealed that sales dipped in its latest full-year results, alongside the announcement of a new CEO, as revenue fell by 2.7% to £4.7bn against the prior year, despite increasing 22.5% on a two-year basis against FY20. Its UK fascia revenue decreased 4.1% year-on-year, largely driven by a one-year…

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B&M ups guidance following strong festive trading

B&M has announced it has raised its guidance for FY22 following a period of “very strong” trading in the run-up to Christmas.  The retailer’s EBITDA is now expected to be in the range of £605m to £625m, ahead of analysts’ current estimate of £578m. Although total UK revenue was down…

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B&M to pay £250m to shareholders

B&M has announced that its board will pay out a total of £250m to shareholders after declaring a special dividend of 25.0p per share.  It comes as the group welcomed a “strong” performance against pre-pandemic levels in its FY22 interim results on 11 November, with an ongoing evaluation of its…

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B&M launches £250m senior secured notes offering

B&M has announced that it intends to raise £250m through a sterling-denominated senior secured notes offer due in 2028.  B&M said it would use the money raised from the secured notes, a type of corporate bond that gives an investor a higher-priority claim compared to junior notes when a company…

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