Value retailer delivers strong Golden Quarter performance

Value retailer B&M has reported strong profitable growth during its ‘Golden Quarter’ alongside an uptick in sales.

According to its latest trading update for the 13-week period from 24 September 2023 to 23 December 2023, total sales rose 5% year-on-year to £1.6bn. Q3 sales to date were up 8.1% to £4.1bn.

UK sales rose 3.7% in the period to £1.3bn, while year-to-date revenues rose 6.3% to £3.3bn.

In the 14-week period to 30 December 2023, B&M UK like-for-like revenue growth was 1.2%, a strong quarter given prior year comparatives, with performance driven by positive transaction numbers.

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.

“We are well-positioned for the year ahead and we reiterate our guidance for Group adjusted EBITDA within our target range of £620m – £630m for FY24 (FY23: £573m). Our store pipeline is strong and we will open not less than 45 B&M UK stores in each of the next two financial years, driving disciplined cash generating growth.”

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