Bargain shop chain B&M stepping up expansion plans after steady growth
DISCOUNT retailer B&M is stepping up its expansion after growing quarterly sales by a quarter to £456.6million.
B&M will expand
The FTSE 250 group opened 25 stores in the 13 weeks to June 27 and expects to open 80 net new stores – 20 more than previously suggested – as it bids to nearly double its current 450 outlets.
Like-forlike sales growth slowed to 1.1 per cent from 6 per cent last year as poor weather in May hit demand for outdoor products, but there was a “strong” performance from recently opened stores.
Shares rose 2¼p to 342¼p.