Liverpool-based B&M European Value Retail said its group profit before tax fell 55.6% to £75 million in the 26 weeks to September 27, 2025.

B&M said group revenues increased 4% to £2.749 billion “driven by total value and volume growth in both B&M businesses.”

B&M shares are down more than 50% in 2025.

B&M CEO Tjeerd Jegen said: “Our Back to B&M Basics plan is progressing and we are taking decisive actions to improve our retail execution and restore our financial performance.

“While the full financial benefits will build over time, I am confident our actions can restore sustainable like-for-like (LFL) sales growth at B&M UK, which is our number one priority and, in the medium term, low double-digit UK adjusted EBITDA margins as an outcome.

“In the meantime, our store presence in the UK and France continues to expand, supporting Group revenue growth as we reach new customers and support them in these uncertain economic times.

“We continue to strengthen our capabilities and I am pleased to announce the appointment of Simon Hathway as our new Group Trading Director. Simon brings significant retail experience, including as Buying and Merchandising Director at Action Holding B.V., and I look forward to his start at B&M.

“I am also pleased to welcome Helen Cowing as our Interim Chief Financial Officer, who brings a wealth of CFO experience from a variety of corporate backgrounds, including Selecta Group, FatFace and Mobico Group plc.

“Lastly, I am pleased to confirm I am bringing responsibility for our Supply Chain and Retail operations under Jon Parry, one of our most experienced retail leaders, in order to create a simpler and more cohesive structure that brings our Store and Supply Chain teams even closer together.

“I would like to thank Gareth Bilton, Mike Schmidt and James Kew for their commitment to B&M and wish them well for the future.”