Discount Retailer B&M's Holiday Sales Soar, To Pay Special Dividend

By Dayeeta Das
Share this article
Discount Retailer B&M's Holiday Sales Soar, To Pay Special Dividend

British discount retailer B&M reported on Thursday a 22.5% jump in holiday quarter sales and announced a special dividend, as it benefited from low prices and stores that remained open during lockdowns.

The retailer's out-of-town stores have struck a chord with consumers during the COVID-19 pandemic and its stores have been allowed to stay open through the restrictions because they also sell food.

Third-quarter sales rose to £1.40 billion, from £1.14 billion a year earlier.

The retailer, however, flagged uncertainties ahead as Britain headed into a fresh lockdown to fight a new variant of the novel coronavirus.

Quarterly Sales

B&M lowered its adjusted core profit forecast to a range of £540 million to £570 million for the year ending March 27, after it let go of £80 million ($109 million) of property tax relief offered by the UK government in early December.


The move followed a similar decision by major supermarket groups after criticism from lawmakers and media for paying dividends while receiving the relief.

B&M said it would pay a special dividend of 20 pence per share, worth about £200 million in total, towards the end of this month.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.