British discounter B&M European Value Retail said underlying sales in its core UK B&M business rose 3.9% in its first quarter, keeping the group on track with its plans for the 2019-20 year as a whole.
B&M, a general goods retailer which sells everything from furniture to electricals to food, said on Wednesday its total revenue rose 21.4% to £967.7 million (€1.08 billion) in the March 31 to June 29 period.
The group opened 12 new B&M fascia stores in the quarter, while one store was relocated.
'Solid Start'
"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," said Simon Arora, the group's chief executive.
Arora noted that B&M reported 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," he added. "We look forward to the remainder of the year with confidence."
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
