B&M: record Christmas drives strong Q3

Date : 04 January 2017

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. 

To read our report on variety discount growth drivers to 2021, click here.

 

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]

Twitter: @Priya_Retail