B&M is one of the fastest growing retailers in the UK and also one of the leading variety discounters. Originally founded in 1978, it has been led by brothers Simon and Bobby Arora since they acquired the business in 2004. By March 2019, B&M traded through 620 B&M stores across the UK, taking it two-thirds of the way to its recently increased target of 950. It is investing in technology and infrastructure to support this expansion, including new warehouse management and voice picking systems, with a 1 million sq ft new southern distribution centre due to become operational in early 2020. B&M has expanded internationally through the acquisition of the German-based Jawoll business in 2014 and Babou stores in France in 2018. It also increased its presence in the UK through the acquisition of 250-store food retailer Heron Foods in August 2017, which has become the basis of a growing convenience store business.
B&M has raised its half-year profit guidance following a “strong” uplift in sales.
B&M will bump ITV out of the FTSE 100 in a quarterly reshuffle as the discount retailer’s market value rose by nearly a quarter during the year.
B&M has posted an uplift in full-year profits bolstered by strong sales growth, and reports that revenues throughout the coronavirus pandemic have been “strong”.
B&M has posted a jump in sales during lockdown, driven by “exceptionally strong” performance in grocery, DIY and gardening categories.
Value retailer B&M has completed the sale of its German business Jawoll, five months after opening a strategic review into its performance.
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