B&M like for like sales up 6% in Q1

Value retailer B&M has reported that its UK like-for-like sales grew by 6% in its first quarter as it continued its store expansion programme.

In the 13 weeks to 28 June, UK total sales increased by 22.6% to £341.2 million. Across the group, sales rose by 31.9% to £367 million.

The company, which floated on the London Stock Exchange last month, said its UK business had benefited from a strong like-for-like performance as well as the planned opening of a net seven new stores.

Simon Arora, B&M chief executive, added: "The group's first quarter trading performance has been a strong one, demonstrating the continued popularity of our unique offer. Our like-for-like performance was driven by our strong product offering, growth in the average customer transaction value and the late Easter.”

Source: The Retail Bulletin
http://www.theretailbulletin.com/news/bm_likeforlike_sales_up_6_in_first_quarter_28-07-14/