B&M sales fall
By Sarah Wood | 29th June 2022
Discount retailer B&M has posted a 2.2 per cent fall in sales for its first quarter.
The retailer, which has stores in Cheltenham, Gloucester and Lydney, said the figures were affected by strong comparative figures 2021, when the UK was still affected by Covid measures and B&M was classed as an essential retailer.
During the 13 weeks from March 27 to June 25, group revenue fell from £1.189bn in 2021 to £1.161bn, but the figures also showed an improving trend during the quarter.
In the core UK B&M business, one-year like-for-like sales were down 9.1 per cent for the quarter overall, from £1.019bn to £957m.
The difference was even greater during April, due to exceptionally high sales in April 2021. Over the five-week trading period of April 2022, one-year like-for-likes fell by 19.1 per cent.
Sales in May and June this year were more positive, falling by just 1.6 per cent compared to the same period last year.
Last week, B&M launched a trial online home delivery service for a core range of heavier which shoppers could struggle to take home themselves.
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