Market Analysis
On Tuesday, B&M, a British discount chain, projected a 9.8% rise in full-year profit, landing at the higher end of its forecast, alongside a 10% revenue increase fueled in part by new store openings.
The FTSE 100 retailer, renowned for its diverse range of offerings from garden furniture to groceries, anticipates reporting an adjusted EBITDA of £629 million ($782 million) for the fiscal year ending March 30, 2024. This exceeds its guidance range of £620-630 million and surpasses the previous year's figure of £573 million. Total revenue amounted to £5.5 billion.
In the fiscal year 2023/24, B&M expanded its footprint with the launch of 47 new stores in the UK. The company plans to continue this growth trajectory, aiming for no fewer than 45 store openings annually over the next two fiscal years. Presently, B&M operates 741 stores under its flagship brand in the UK, along with 335 stores under the Heron Foods and B&M Express banners, and 124 stores in France.
B&M reported a 2.9% increase in like-for-like sales in the fourth quarter for its UK operations and a 3.7% rise over the entire fiscal year.
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