B&M: Discount retailer enjoys rewards of cost-of-living Christmas
B&M Bargains enjoyed a buoyant Christmas, reporting a five per cent leap in revenues during the golden quarter.
The value retailer told markets this morning revenues reached £1.64bn, as shoppers sought out discounts amid the cost of living crisis.
In the UK revenues grew 3.7 per cent during the period to £1.3bn, and in France they surged 11.7 per cent to £151m.
It comes as the group is plotting an expansion in the UK, gearing up to open around 45 new sites in the coming year.
B&M also snapped up 51 Wilko sites last year following the group’s collapse.
Alex Russo, chief executive, said: “The performance across the golden quarter has been pleasing, with strong operational execution across the three businesses.
“Our strategy remains unchanged – we are an everyday low-price discounter with a laser-focus in keeping excellence in retail standards and our costs the lowest. This allows us to provide our products at the best price to all customers – many of whom continue to face significant cost-of-living pressures.”