B&M store revenue surges

Discount retailer B&M has reported an in-store revenue hike of 26.6% at the end of last year, as shoppers continued to flock to its sites in lockdown. B&M saw like-for-like in-store growth of 21.1% in the quarter ended 26 December. Group revenue rose by 22.5% during this period. It was boosted by the opening of 18 new UK stores, with two closures bringing the portfolio to 673 stores. B&M said it was on track to open a further 18 stores in Q4 of the business year, bringing the annual total to 45 new stores, with 10 closures. It reported a “healthy” pipeline for 2022. Chief executive Simon Arora said: “Notwithstanding our status as an essential retailer, with lockdown restrictions in the UK having tightened, there remain uncertainties ahead. “With our combination of exceptional value and convenient out-of-town locations, we are confident that our business model will prove highly relevant to the needs of customers in 2021.”   To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette