Table of Contents
- B&M’s sales rose 10.1% over the last year as it promises more new stores.
- The UK division of the discount retailer posted revenue of £4.41bn
Bargain hunters have boosted sales at B&M, with the discounter pledging to open 45 new British stores this year.
The FTSE 100-listed retailer said group revenue rose 10.1 per cent to £5.5bn over the last year.
At home, B&M’s UK division, where the group does most of its trading, saw sales rise 8.5 per cent to £4.41bn.
B&M has already opened 47 new stores over the past year, having bought some of Wilko’s closed stores, which it said were “delivering above expectations”.
B&M has already opened 47 new stores last year and promises to offer more
The company’s French division also saw a 19.2 per cent rise to £514m, while its Heron Foods division saw sales rise 15.3 per cent to £560m.
In a full-year trading update, covering the 53 weeks to March 30, 2024, Liverpool-based B&M said growth had benefited from an extra week of trading and an early Easter compared to 2023. .
Alex Russo, chief executive of B&M, said: ‘“The business and team are well prepared for the year ahead, our portfolio remains on track to open no less than 45 B&M stores in the UK in each of the next two financial years and our French and Heron businesses continue to demonstrate significant profitable growth potential.”
A key part of the retailer’s success lies in its ability to source its huge range of products directly from B&M’s own Asia-based purchasing operation, which it says gives it an advantage in design and value.
After Wilko’s collapse last summer, B&M bought 51 of the homewares chain’s stores from administrators in a £13m deal.
Then, in November 2023, B&M said it hoped to open at least 125 more stores across the UK over the next three years.
At the same time, the company expanded its long-term domestic store goal from 950 to 1,200.
The company operates around 717 stores in the UK under the B&M brand, as well as 122 French outlets and more than 330 stores under the ‘Heron Foods’ and ‘B&M Express’ names.
Despite the positive results, b&m actions They were down 1.8 per cent at 496.50 pence in Tuesday morning trading and have fallen 11 per cent this year.
DIY INVESTMENT PLATFORMS
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 7 Easy investing and ready-to-use portfolios](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
AJ Bell
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 7 Easy investing and ready-to-use portfolios](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
AJ Bell
Easy investing and ready-to-use portfolios
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 9 Free Fund Trading and Investment Ideas](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_749_Britains-pay-rises-forecast-to-slow-for-the-first-time.jpg.webp)
Hargreaves Lansdown
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 9 Free Fund Trading and Investment Ideas](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_749_Britains-pay-rises-forecast-to-slow-for-the-first-time.jpg.webp)
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 11 Fixed fee investing from £4.99 per month](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_266_Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
interactive inverter
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 11 Fixed fee investing from £4.99 per month](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_266_Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
interactive inverter
Fixed fee investing from £4.99 per month
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 13 Stock Investment: Community of over 30 million](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_634_Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
eToro
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 13 Stock Investment: Community of over 30 million](https://whatsnew2day.com/wp-content/uploads/cwv-webp-images/2024/02/1707733883_634_Britains-pay-rises-forecast-to-slow-for-the-first-time.png.webp)
eToro
Stock Investment: Community of over 30 million
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 15 Free stock trading and no account commission](https://media.sailthru.com/composer/images/sailthru-prod-626/trading%20212%20logo.jpg%20)
Trade 212
![Bargain hunters boost B&M sales as former Wilko stores do brisk trade 15 Free stock trading and no account commission](https://media.sailthru.com/composer/images/sailthru-prod-626/trading%20212%20logo.jpg%20)
Trade 212
Free stock trading and no account commission
Affiliate links: If you purchase a This is Money product you may earn a commission. These deals are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investment account for you