Home / Business / Festive sales hearten for value tradesman B&M

Festive sales hearten for value tradesman B&M

Shares in the company, whose soon-to-depart authority is former Tesco boss Sir Terry Leahy, rose 3% after the trade refurbish covering the 13 weeks to 23 December.

It comes a day after figures from Sir Terry’s former company fell brief of City expectations, despite showing the best Christmas opening given 2010, when he was in charge.

Retailers have seen churned fortunes over the period, with food stores broadly doing good as squeezed consumers focused on essentials – leaving reduction to spend on wardrobe and gifts at other stores.

At the upmarket finish of the selling spectrum there was a certain refurbish from Fortnum Mason on Friday, with like-for-like sales up 13% in the 5 weeks to 31 December.

That was interjection to the performances of its executive London flagship store in Picadilly as good as outlets at St Pancras and at Heathrow, as good as online revenues.

:: Christmas of contrasts for Britain’s retailers

BM, which describes itself as the UK’s heading ubiquitous sell value retailer, pronounced it had seen a “robust performance” in grocery and FMCG, or fast-moving consumer products – a difficulty trimming from canned drinks and toilet hurl to fruit and veg.

Chief executive Simon Arora pronounced the expansion came despite comparisons with a clever Christmas duration last year.

“BM continues to go from strength to strength… delivering good value for business week-in week-out,” he said.

The company operates 569 BM stores in the UK and 263 under the Heron preference sequence it bought for £152m progressing this year, as good as 84 Jawoll outlets in Germany.

It reported sum revenues of £970m for the Christmas quarter, 23% up on the same duration last year as it continued to enhance and pronounced it was assured of assembly marketplace expectations for the financial year to March.

Analysts at Shore Capital said: “BM Retail is another leader for Christmas 2017. In the perspective there are few store formed retailers in the UK producing such considerable expansion numbers.”

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