First financial quarter sees sales rocket 18.3% in actual rates
Sales of 656.3m gave value retailer B&M its “strongest first quarter in three years”, according to boss Simon Arora.
The upswing in sales came between 26 March and 24 June and represent a whopping 18.3 per cent rise in actual rates. UK like-for-like sales grew 7.3 per cent - a stark contrast to a flat first financial quarter in 2016.
B&M Welshpool opened in May earlier this year
Chief executive Simon said “In these uncertain times, and with inflation returning to the UK market, more and more shoppers are actively seeking out value in our stores and that means our business is strongly positioned to do well and continue its rapid growth.”
The retail group’s German business Jawoll saw even greater sales growth than the UK business. Between 1 April and 30 June, the retailer saw sales leap 23.9 per cent in actual rates. B&M’s German arm accounts for around 10 per cent of the group’s annual earnings.