B&M to close stores
By Sarah Wood | 1st March 2023
Discount retailer, B&M, is to close four stores in the next few weeks.
The retailer will close its stores in Bristol, Newport, Kilmarnock and Stockton, as reported by Retail Gazette.
But, unlike most other retailers reducing their store portfolios due to the cost-of-living crisis, B&M said that isn't the reason for closing the stores.
The retailer, which has 700 sites, including stores in Gloucester, Cheltenham and Lydney, said the closures are due to new store openings and other external factors.
Earlier this year, B&M reported a 6.4% sales growth in the key Christmas quarter, indicating that shoppers were looking for value options to help them deal with the rising cost of living.
In recent weeks, H&M has announced it will be closing four stores due to changing customer behaviour and Iceland said it will be closing at least six UK stores.
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