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B&M European Value Retail S.A. (DI) (BME)

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B&M enjoys 'solid' first quarter, announces slew of store openings

24 Jul 19

LONDON (ShareCast) - (Sharecast News) - B&M European Value Retail reported a "solid" start to the year on Wednesday as it achieved double-digit revenue growth in the first quarter and unveiled expansion plans.
The retailer said group revenue increased 21.4% to 967.7m, with core B&M UK revenue growth of 13.8% including like-for-like growth of 3.9%, which it said reflected its new store opening programme and continued sales growth.

Revenue from Heron Foods increased by 8.1% to 93.1m, while Jawoll's revenue contribution increased by 1.9% to 63.1m and newly acquired Babou's first contribution was 72.6m.

The opening of 12 new B&M stores and six new Heron Foods locations helped to drive revenue higher and left B&M with a total of 632 trading locations and Heron Foods with 287.

The FTSE company also announced plans to open 50 new B&M stores and between 15 and 20 Heron Foods stores during the remainder of its financial year, leaving it on track for 45 net new stores in the year as a whole.

Simon Arora, chief executive of B&M, said: "B&M had 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. We look forward to the remainder of the year with confidence."

B&M European Value Retail's shares were up 1.26% at 361.60p at 0903 BST.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 333.10p
Change Today 4.00p
52 Week High 420.90p
52 Week Low 315.00p
Volume 6,079,423
Shares Issued 1,000.56m
Market Cap 3,332.87m


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