B&M has reported a strong sales performance for the 13 weeks to 24 December 2016 following a record Christmas trading period.
Q3 UK revenue up 20.7%
B&M's group revenue for the 13 weeks rose 20.5% to £741.1m. The UK business saw sales grew 20.7%, with like-for-like sales up 7.2%. This positive performance is down to strong product sales, improved in-store standards, and better service levels from the company's two distribution centres compared with last year. Considering performance year-to-date, it is likely that B&M's UK sales will hit a milestone this year by surpassing £2bn.
Jawoll revenue up 18.8%
Sales for the discounter's German business also saw a positive performance, up 18.8% on a Euro basis (43.2% in Sterling) to £47.7m for the period between 1 October 2016 and 31 December 2016. Expansion on the continent continues for B&M with Jawoll now trading from 73 stores, an increase of seven new stores within the quarter.
14 new UK stores
B&M continues its expansion in the UK, opening 14 new stores in Q3, taking the discounter's total to 533 and a net 34 in this financial year to date. B&M looks to achieve its aim of 50 stores this year with another 16 to open before the year end.
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Priya Chandarana is a Retail Analyst at IGD, specialising in research on the growing discount channel. To learn more about how IGD's research can benefit your business further, please get in touch - [email protected]