B&M wants a lot more stores

Discount retailer B&M has raised its target to more than 1,200 stores. The FTSE 100-listed retailer has raised its ambition from its previous target of 950 shops. It currently has 712 B&M outlets, as well as 328 Heron Foods stores in the UK and 119 in France. The group now expects to open at least 125 B&M stores in the UK over the next three years. It said the acquisition of 51 shops from Wilko was a “significant step”. The retailer reported a 10.5% increase in interim pretax profit to £222m from £201m for the same period last year. It has increased its forecast for the 2024 financial year to between £620m and £630m. The Times (£)