B&M set to smash expectations as retailer reports lockdown boost

first_imgEarlier this month the variety retailer reported that sales had passed £1bn for the year amid the pandemic, as quarantined Brits turned to DIY and stockpiled products during lockdown.  B&M set to smash expectations as retailer reports lockdown boost Poppy Wood whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com However, the group withheld any forecast for the second half of the year, citing Covid-19 and economic uncertainty. B&M said it would provide a more detailed update with its half year results on 12 November.   The Liverpool-based chain was classed an “essential” retailer by the government when the Prime Minister announced a nationwide lockdown in March, meaning the company has benefitted from remaining open throughout the crisis.  In the period between 29 March and 27 June, B&M reported 27.7 per cent growth in group revenue from £904.6m to £1.15bn, as surging demand for gardening and DIY products offset a decline in customer numbers. In the UK, B&M has 656 stores trading but no new stores have been opened due to the impact of the coronavirus crisis. The firm said it expects to open net 30 new stores, with at least 15 net new Heron stores. Also Read: B&M set to smash expectations as retailer reports lockdown boost Share B&M European Value Retail hailed a “strong” first half of the year on the backdrop of the coronavirus crisis, with earnings for the six months to September set to smash analysts’ expectations. Show Comments ▼ Tuesday 28 July 2020 7:54 am B&M today said it was well-placed to continue profitability in the UK and to continue to develop its operations in France. The group expects adjusted earnings before tax, amortization and depreciation for the six months to 26 September to be between £250m and £270m, ahead of analysts’ expectations of £208m for the period. whatsapp Also Read: B&M set to smash expectations as retailer reports lockdown boost last_img

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