B&M UK expansion on track despite fall in like-for-like sales

B&M’s UK sales declined by 1.6% in the 13 weeks to 29 December, compared with the same period last year. The discount retailer reported a “disappointing” November ending with a “strong finish” in December continuing into January. Sales revenue rose by 4.5% to £874.5m for the quarter, compared with £837.3m last year. B&M UK opened 20 new stores in the quarter and said it was on track to open a total of 56 in the year. Chief executive Simon Arora said: “The business’s ability to manage profitability through uncertain trading conditions is testament to the resilience of the business model and the strong operational controls we have in place. “We continue to open new stores and win market share when other retailers are retrenching.” B&M is based in Liverpool and has a stronghold in the North. Last year it began expansion into the South, seeking to add an additional 1m sq ft to its existing network of 560 stores. It has a target to reach a UK portfolio of 950 stores over the next six years and has since bagged new retail park sites in Bedfordshire and Hull. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette