B&M: Poor UK sales weigh on earnings for bargain retailer Retail Discount retailer B&M expects full-year earnings to fall year on year as poor UK sales weigh on overall company performance. However, the company told markets this morning that it expects to report earnings before interest, tax, depreciation and amortisation (EBITDA) above the midpoint of its £605m-£625m guidance range. The firm lowered its expected full-year EBITDA [...]
Poundland owner Pepco vows to turn around discount retailer as sales fall Retail The owner of Poundland has vowed to get the discount retailer back on track after its performance dragged on the wider Pepco Group. In the first quarter of its financial year, the final three months of 2024, Poundland’s sales totalled €563m (£474.5m), down 9.3 per cent year on year on a constant currency basis. That [...]
Home Bargains billionaire pays himself over £1bn as sales and profit surge Retail The billionaire owner of Home Bargains paid himself more than £1bn as sales and profit both jumped at the discount retail giant during its latest financial year. Tom Morris, who owns 98 per cent of Liverpool-headquartered TJ Morris, the firm behind the brand, received the vast majority of the £1.22bn in ordinary dividends and asset [...]
Poundland owner Pepco slumps to huge loss after £640m hit December 10, 2024 Discount retail giant Pepco slumped to a loss of more than £450m after weak performance from Poundland in the UK, it has been revealed. The European group has posted a pre-tax loss of €554m (£458.7m) for the 12 months to 30 September, 2024, after having made a profit of €159m (£131.6m) in the prior year. [...]
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. [...]