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B&M posted modest revenue growth in the first quarter. In the United Kingdom, the gardening and outdoor season got off to a slow start, but growth in France and improved performance at Heron Foods offset the decline.
Price pressure in the United Kingdom
In the United Kingdom, spring got off to a late start, which slowed sales of seasonal items in the company’s largest market. In the 13 weeks ending June 27, group revenue rose 2% to 1.43 billion British pounds (1.67 billion euros), while comparable revenue at B&M UK fell by 2.3% as a result.
At the same time, pressure from supermarket chains intensified: their loyalty programs led to lower prices for food, household products, and other everyday purchases. B&M responded with additional price investments and a review of its product range. The chain aims to strengthen its value-for-money image as pressure on lower-income households persists.
France, on the other hand, is emerging as an increasingly important growth driver for the group, while the frozen food chain Heron Foods also performed better. In the previous fiscal year, B&M’s annual revenue rose by 3.6% to 5.78 billion British pounds (6.76 billion euros), aided by double-digit growth in France. Adjusted profit did decline, however, as the retailer faced weaker margins and the costs of further price investments.
