Liverpool-based B&M European Value Retail said on Tuesday group revenues rose 3.7% to £5.6 billion in the 52 weeks to March 29, 2025, “with revenue growth from new store performance and positive like-for-like (LFL) sales in France offsetting negative LFL performance in B&M UK and Heron Foods.”

B&M said it is making progress on its CEO succession plans and will make an announcement in the coming weeks.

In February, B&M said CEO Alex Russo had advised the board of his intention to retire as group chief executive and a director of the company with effect from April 30, 2025.

On Tuesday, B&M added: “B&M UK Q4 LFL was (1.8)% in the 12 week period to 22 March 2025 …

“B&M France Q4 LFL was +3.2% for the same 12 week period. B&M UK Q4 13 week LFL was (2.4)%. A 12 week period is shown as it removes the distorting effect from the Easter weekend falling in the final week of FY24 …

“B&M UK FY25 LFL was (3.1)% and B&M France FY25 LFL was +2.6% …

“B&M UK general merchandise sales values and unit volumes in Q4 increased on both a like-for-like and total basis; Garden, Toys, Paint and Stationery categories have underpinned performance. FMCG delivered a negative LFL while remaining positive in total sales value and volume growth. Actions are underway to improve FMCG LFL performance …

“Opened 45 B&M UK gross new stores in line with previous guidance. These new stores are performing in line with our expectations and are generating strong returns. Pipeline for next year continues to be robust with 45 gross new store openings expected …

“Continued progress being made in France with 11 gross new stores and Heron with 14 gross new stores opened during the year …

“FY25 Group adjusted EBITDA (pre-IFRS 16) is expected to be above the midpoint of our £605m-£625m guidance range …”