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B&M's First-Quarter Underlying Sales Up, On Track For Year

By Steve Wynne-Jones
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B&M's First-Quarter Underlying Sales Up, On Track For Year

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.

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"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.

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