Newly floated value retailer B&M has posted strong first-quarter sales growth and said that full-year guidance is in line with expectations.
B&M generated sales growth at group level of 31.9% to £367m in the 13 weeks ending 28 June 2014.
At the core UK business sales surged by 22.6% to £341.2m and like-for-likes advanced 6%, which the retailer said was “on top of a strong quarter last year” when like-for-likes advanced 7.3%.
B&M chief executive Simon Arora said: “The group’s first quarter trading performance has been strong, demonstrating the continued popularity of our unique offer.
“Our like-for-like performance was driven by our strong product offering, growth in the average customer transaction value and the late Easter.
“Our teams are focused on delivering our important Autumn/winter season and our ongoing new store programme.”
He said that the management of newly acquired German business JA Woll has “made good progress on accessing the group’s Far East supply base for its 2015 ranges”.