// B&M sees group revenue decline 2.2% in the first quarter but with an improving trend during the quarter
// Over the 5 week trading period of April 2022 one-year revenues were down 19.1%, driven by elevated sales in the prior year
Discount retailer B&M posted a 2.2% fall in first quarter group revenues today, but said its guidance for the full year remains unchanged.
The South Liverpool-based business was impacted by strong comparative figures from 2021 when the UK was still affected by pandemic measures.
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During the 13 week period from March 27, 2022, to June 25, group revenue, on a constant currency basis, declined from £1.189bn in 2021 to £1.161bn this time around, but the figures also revealed an improving trend during the quarter.
In the core B&M UK fascia, one-year like-for-like revenue dropped 9.1% for the quarter overall, from £1.019bn to £957m.
Due to exceptionally high sales in April 2021, the group said that over the five week trading period of April 2022, one-year like for like revenues were down 19.1%, driven by elevated sales in the prior year, and over the subsequent eight week trading period covering May and June one-year like for like revenues fell 1.6%.
Last week the business launched a trial home delivery service from 1,000 of its B&M stores.
Initially, the discount retailer will be offering a range of heavier general merchandise products which shoppers could struggle to transport themselves.