B&M share price tanks as UK sales decline sets back turnaround efforts

For the 13 weeks to June 27, 2026, the value retailer reported that UK like for likes dipped 2.3% to £1.1bn, putting a hole below the waterline of its ongoing turnaround efforts as part of its Back to B&M Basics plan.

B&M France performed strongly in the period, delivering 5.3% like-for-like sales growth to £156m, while Heron Foods delivered 2.6% growth to £142m.

The group delivered 2% topline growth to £1.4bn.

Chief executive Tjeerd Jegen said: “Our first quarter is our seasonally most variable for sales, and the previously mentioned slower start to our garden season against a very strong comparable last year made this especially so in Q1. Against this backdrop, the like-for-like sales decline at B&M UK was expected, but it was pleasing to see our general merchandise categories return to growth in May and June, and our garden and outdoor inventories ending the season at normal stock levels.

“France performed strongly, showing how consistent execution of the B&M model can drive higher footfall and positive sales in a competitive retail market. As with Heron, which also delivered positive sales growth in the quarter, the smaller contribution of garden and outdoor categories to sales resulted in a like-for-like performance that is less impacted by seasonal factors, and more in keeping with the outcome we are working hard to achieve for B&M UK under Back to B&M Basics.

“We continued to deliver on our Back to B&M Basics plan to support a recovery in like-for-like FMCG sales at B&M UK. This includes sharpening our FMCG ranges through SKU rationalisation, which is now well underway across our UK stores and will be 75% complete by the end of July. Our B&M UK general merchandise trading margin continued the upward trend we communicated with FY26 results, which together with our ongoing focus on cost mitigation underscore our confidence in rebuilding Group profitability over time.”