// B&M reports strong ‘Golden Quarter’ sales over the all-important Christmas trading period
// The retailer said strong demand for non-grocery products helped lift margins as it posted a 12% jump in quarterly revenue to £1.56 billion
B&M saw its UK like-for-like sales grow 6.4% in its key Christmas quarter, showing that shoppers sought out value options as they grappled with the cost-of-living crisis.
The value retailer issued a third-quarter trading update for the period to December 24, revealing 12.3% total group revenue growth in the reporting period, hitting £1.567bn sales, boosted by strong demand for non-grocery products.
For the year to the end of March, it said it now expects annual core earnings of between £560 million to £580 million – higher than the current analyst forecasts of £557 million.
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And, against the background of a cost-of-living crisis affecting many consumers, B&M said its stock disciplines remained robust, allowing stock reduction of approximately £100m year on year.
B&M chief executive Alex Russo said: “Despite the challenging macroeconomic environment, we will continue to work hard to help both existing and new customers manage the cost-of-living crisis.”
Trading momentum in B&M France also continued through the third quarter, with revenue up 24.9% while its Heron Foods arm also achieved good trading momentum, showing a 22.5% increase in revenues during the quarter.
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