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.
Buy cheap, pile on debt, flog assets and extract the value, sell high to a new owner and pay yourself handsomely – that’s one characterisation of private equity, with recently collapsed department store group Debenhams seen as the poster child in critics’ eyes.
B&M has poached The Range’s chief digital and omnichannel officer Jens Sorensen as it gears up for a push into ecommerce.
B&M Bargains has registered a strong uplift in revenues during the festive period as more consumers sought value for Christmas.
Value giant B&M and specialist retailer Pets at Home have become the latest retailers to waive business rates relief after Tesco sparked a spate of such initiatives earlier this week.
B&M has recorded a jump in interim profits spurred by a leap in sales that boss Simon Arora says shows the retailer is “well-attuned to the evolving needs of customers”.
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