B&M enjoys record sales in Garden and Outdoor Leisure

B&M has updated the market on its first quarter trading performance, covering the period from 1 April 2018 to 30 June 2018.

Highlights included:

- Strong start to the new financial year as B&M’s disruptive value model continues to prove highly attractive to customers

- Group revenue growth in the quarter of 21.3%, with B&M UK revenue growth of 8.3% including like-for-like growth of +1.6% and +3.6% on an underlying basis, excluding the non-comparable Easter week in the prior year

- Four new B&M UK stores opened in the quarter (which includes one relocation), reflecting the phasing of the new store opening programme being weighted towards the second half of the financial year. On track for 50 gross new stores in the year as a whole

- Four new stores opened in the quarter by our value convenience store chain, Heron Foods, which continues to trade well on top of good performance in the prior year

- Encouraging progress at Jawoll with good revenue growth of 7.0% in the quarter driven by the Gardening category, with new management driving a fast pace of change in the customer offer ahead of the Autumn/Winter season

Simon Arora, Chief Executive, said:

“The business has performed strongly in the quarter despite demanding comparables of +7% LFL’s in the previous year and a sluggish market environment.

"Our competitively priced ranges for Garden and Outdoor Leisure have been very well received and they are achieving great rates of sell-through. We have enjoyed record sales in these seasonal product categories, which is a testament to the appeal of our highly disruptive business model.

"I would like to thank all our colleagues for their hard work and success in delivering B&M’s best ever Q1 early Summer Trading season.”

The full trading update is available on our Articles page, here. 

Source : Insight DIY Team and B&M

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