B&M quarterly sales revenue up 12% to £1bn

Liverpool-based bargain retailer B&M European Value Retail said on Thursday its total sales revenue increased 12.1% to £1.087 billion in the 13 week period to December 29, 2018, the third quarter of its current financial year.

Total group revenues year-to-date are up to £2.65 billion from £2.31 billion a year earlier.

In its outlook, B&M said: “Our January period has started well and we are well positioned for the remainder of the financial year.

“Our pipeline of new stores is healthy and we remain on track to deliver continued sales and earnings growth this financial year and the next.”

B&M CEO Simon Arora said, Despite the broader economic uncertainty over the last quarter, B&M is on track to deliver a record year for both sales and earnings, representing our fourteenth consecutive year of profit growth. 

“The business’ ability to manage profitability through uncertain trading conditions is testament to the resilience of the business model and the strong operational controls we have in place.

“We continue to open new stores and win market share when other retailers are retrenching.”