B&M, the variety goods value retailer, had a positive Christmas trading period with Group revenue growth of 5.0% year-on-year to £1,645m, in the 13 week period from 24 September to 23 December 2023. B&M UK sales grew by 3% year on year, with double digit growth in both B&M France and Heron Foods.
- General merchandise volume performance delivered strong sales participation and high sell-through, exiting the quarter with a clean Group inventory position flat YoY
- The business is on track to open 76 gross new stores across the Group in FY24 (45 in B&M UK, 11 in B&M France and 20 in Heron Foods)
- The Board will be declaring a special dividend of 20.0p per Ordinary Share to be paid on 9 February 2024 to shareholders on the register at 19 January 2024.
- 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 (pre-IFRS 16) 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.”