Bobby Arora: B&M bigwig sells London pad near Buckingham Palace for 30 per cent loss March 8, 2024 British billionaire and trading director for budget retailer B&M has sold his London mansion for a 30 per cent loss.
B&M: Bargain hunting Brits help budget chain’s revenues top £1bn June 29, 2023 Brits seeking out bargains have continued to drive earnings at value retailer B&M as it reported a 13.5 per cent rise in group revenue in the first leg of the year. The news, however, failed to impress investors as its share price slumped over 6 per cent when markets opened this morning. The homeware to [...]
FTSE 100 close: Wage growth fuels rate fears as M&S soars and B&M drops on Wilko speculation August 15, 2023 London’s FTSE 100 ended Tuesday down more than 1.6 per cent, as record-breaking wage growth fueled speculation of a 15th straight Bank of England rate hike. The capital’s blue-chip index was down 1.63 per cent by close of play to to 7,384.94, weighed down by listed investment firm Abrdn, down three per cent, alongside Pheonix [...]
Morning in the City: Prudential’s CFO quits, Bloomsbury, B&M and London leading UK confidence May 31, 2023 Morning, and welcome to the live blog on 31 May. This morning we have results from Bloomsbury Publishing, B&M, and the departure of a top exec for “failing” standards.
FTSE 100 close: Softening China economy hits London index as WH Smith and B&M soar May 31, 2023 London’s FTSE 100 was dragged lower today by softer than expected data from China signalling the world’s second largest economy is on the wane. The capital’s premier index slid 0.98 per cent to 7,448.01 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.45 [...]
B&M: Bargains boost sales during ‘golden quarter’ – but will shares continue to rally? January 5, 2023 Bargain hunters gave discount retailer B&M a timely Christmas present as it looks to continue a share price rally that has seen its value jump 18 per cent in the last six months. In its third quarter trading update B&M reported 12.3 per cent year-on-year revenue growth of £1.5bn during the 13 week period 25 [...]
B&M to close four more stores but warns it has ‘nothing to do’ with diminishing high street February 28, 2023 B&M is closing more stores across Britain in the coming weeks, however the discount retailer has warned that it is “nothing to do with the diminishing highstreet”. The retailer, which sells home goods and electronics, will close four stores in total across the UK – having previously announced the closure of two sites. According to [...]
B&M hopes to win long-term customers from shoppers trading down in economic crunch November 10, 2022 B&M has said it is optimistic that it would be able to retain the loyalty of shoppers who are switching to the discount retailer amid the economic downturn. The British-Luxembourg business said it was “well positioned” to reap the rewards of customers who were trading down in both grocery and non-grocery, against the backdrop of [...]
B&M retail poaches DFS Furniture’s CFO amid inflation concerns July 5, 2022 The chief financial officer (CFO) of DFS Furniture has been poached by B&M Retail S.A., after steering the sofa retailer through the turbulent pandemic period. Mike Schmidt, who will also step onto the board as an executive director, is expected to take up the new position by the beginning of next year. The ex-Citi and [...]
B&M sales dip as discount retailer names new chief May 31, 2022 Discount retailer B&M has warned trading patterns are anticipated to “remain unpredictable” in the year ahead, while it feels ready to reap the rewards of shoppers hunting for bargains amid sky-high inflation. In results for the year to 26 March 2022, group revenue dipped 2.7 per cent on the prior year to £4.67bn. However, this [...]