The usually infallible B&M posted a subdued set of interim results this morning.
The value giant, which has recorded a 70.5% slump in pre-tax profit to £32.2m at the half-year mark, attributed its subdued performance to its struggling German division, where the retailer’s performance is less Jawoll than ‘ach nein’.
The business’ German division swung to a £12.2m pre-tax loss during the period, compared with a profit of £1.1m the previous year, which has prompted a business review of the market.
Germany is one of Europe’s most significant discount markets, so the opportunity to grow sales in that region is substantial if done right. So why has one of the UK’s most formidable operators had such trouble?
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