Liverpool’s B&M European Value Retail, the UK’s leading variety goods value retailer, said it is holding its outlook as it enters the ‘Golden Quarter’ of gift-giving and consumer spending and said it was considering redomiciling away from its current official base in Luxembourg. 

“The business is well positioned for the Golden Quarter with its continued focus on price, product and standards. While the consumer environment remains uncertain, the Group has demonstrated it executes well in all trading environments,” it said in a statement. 

“With growing volume momentum, and with broadening strength in general merchandise, we are confident in our outlook for the second half and the full year. We anticipate full-year Group adjusted EBITDA to be in the range of £620m-£660m.”

The company, which is listed on the London Stock Exchange and incorporated in Luxembourg, also said it “has commenced a formal review of options to relocate the parent company’s corporate domicile, to simplify administrative processes and enable greater flexibility in returning capital to shareholders, including through share buybacks.”

“The project, which is being undertaken in conjunction with external advisers, is at an early stage and there can be no certainty that any change will ultimately be implemented. The Group intends to retain its London listing in the event that any change is ultimately implemented. An update will be provided in early 2025.”

For the latest six-month period, B&M said revenue increased by 3.7% to £2.644 billion, and adjusted EBITDA rose 2% to £274 million.

It said it opened 39 new stores across its operations in the first half of the financial year, 30 of those in the UK.