B&M: City broker ‘not concerned’ about retailer despite turmoil Retail City broker Panmure Liberum has reassured investors about a serious slide in B&M’s share price, arguing that it’s based on a ‘one-time error’ and doesn’t suggest underlying trouble. B&M surprised markets this morning when it released a trading statement showing a significant accounting error and the related departure of its chief financial officer. The FTSE [...]
B&M swaps one tax haven for another Retail B&M has revealed plans to swap Luxembourg, the European tax haven the discount retailer has been domiciled in for over a decade, with Jersey. The London-listed company, which has its operational headquarters in Liverpool, said the move would simplify its corporate and administrative structure and provide “greater flexibility for returning capital to shareholders going forward”. [...]
B&M: FTSE 250 shares plunge as profit and job cuts revealed Retail Shares in B&M have plunged by more than ten per cent after the retailer revealed a lower profit, rising debt and job cuts. The Liverpool-headquartered company, which is a member of the FTSE 250 index, reported a pre-tax profit of £431m for the 12 months to 29 March, 2025, down from the £498m it achieved [...]
B&M appoints ex-Tesco executive as new CEO May 15, 2025 Household goods retailer B&M has appointed ex-Tesco executive Tjeerd Jegen as its new CEO. Jegen will succeed Alex Russo, who joined the company in 2020 and was promoted to the top job in 2022. Group CFO Mike Schmidt will continue to lead the business until 16 June. Liverpool-headquartered B&M announced Russo’s departure in February this [...]
Trouble for B&M as millions wiped off value despite huge pay day January 14, 2025 Despite reporting increased sales and a huge dividend of more than £150m, shares in B&M plunged in the aftermath of its latest trading update last week. Shares in the Liverpool-headquartered discount retailer slumped from 360p to 316p following the publication of its third quarter results. B&M’s price has hardly recovered in the days since, with [...]
Pressure on incomes helps B&M grow as value retailer targets 1,200 stores November 14, 2024 Value retailer B&M Bargains has posted a tick-up in revenue as demand for bargain goods has remained high amid pressure on incomes and a higher tax burden. The Liverpool-based group, which included Heron Foods, said group revenue in the half year to 28 September increased by 3.7 per cent to £2.6bn. While this is lower than growth last [...]
Grocers vs bargain chains: Discount competition is heating up July 23, 2024 The discount sector is crowded and competitive: Aldi, Lidl, Poundland and B&M are only a few of the retailers vying for space. The market for discount goods has been growing over the last few years, but not every company has been a winner – only a few stores have managed to attract and keep customers. [...]
Discount retailer B&M beats ‘lockdown peak’ but shares slip as analysts left with ‘more questions than answers’ June 5, 2024 Bargain retailer B&M has exceeded its “lockdown peak” as the firm reveals it is trading at the higher end of its guidance thanks to Brits sniffing out a bargain
Bargain-loving Brits help drive profit at B&M with 45 new stores in the pipeline April 16, 2024 Value retailer B&M Bargains is expecting profits to come in at the top range of guidance, as demand for bargain goods continues to surge amid the cost of living crisis.
B&M chairman Peter Bamford to step down after six years at the top January 23, 2024 The chairman of discount retail giant B&M is to retire later this year, it has been announced.