Simon Arora, co-founder and CEO of B&M
The retailer shrugged off challenging market conditions to report a sharp rise in sales over the Christmas period.
The B&M Group reported a 22.7% rise in like-for-like sales during the third quarter of the year, boosted by its acquisition of frozen food retailer Heron.
UK sales revenue for the B&M store estate in the 13 week period increased by 12.9% to £837.3m (2016: £741.4m) with like-for-like sales up by +3.9% in the quarter.
The Heron store estate contributed £79.8m of revenues in the quarter, including strong positive like-for-like revenue growth with the business benefitting from selective extension to product ranges.
At the end of the quarter, the UK business was trading from 569 B&M stores, having opened 19 stores in the last 13 weeks and a net 32 in total during the financial year to date, and, from 263 Heron stores, with four new store openings in the quarter.
Co-founder and chief executive, Simon Arora, said: "B&M continues to go from strength to strength. Despite the demanding comparatives from the very strong Christmas in 2016, our buying, supply chain and retail teams achieved another outstanding performance this year by doing what we do best, which is delivering great value for customers week-in, week-out.
“With Heron also performing well and Jawoll having a solid quarter, I'm delighted with our progress and on behalf of the board I would like to thank all of our colleagues for their hard work and commitment."
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