Variety goods value retailer B&M has reported strong profitable trading momentum for the first quarter of its current financial year.
According to its latest trading update for the period from 26 March 2023 to 24 June 2023, total sales rose 13.5% to £1.3bn from £1.1bn against the same period last year.
B&M UK sales rose 11.3% to £1bn from £957m, with like-for-like revenue growth up 9.2%. The company said that both grocery and general merchandise categories have performed “very well”, driven by consistently strong and positive LFL transaction numbers.
Alex Russo, Chief Executive, said: “Our strong trading momentum demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail standards. The business is well positioned as we start to transition to our autumn winter season. We will continue to work hard to help all our customers manage the cost-of-living crisis.”