Primary Recommendation

B&M European Retail - Shops designated an essential service with footfall high due to stockpiling

May 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

It seems an eternity since we briefly highlighted discounter B&M last month at 255p as COVID-19 has run amok and the UK has entered a virtual lockdown. But things now appear to be moving its way. On the one hand its low-cost manufacturing base in China is on the mend following anecdotal evidence of factories reopening there, while its stores have also been allowed to stay open because one third of its turnover is derived from selling food products and it is allocating more of its warehouse to provide the nation with essentials rather than general merchandise. However it has temporarily closed 49 of its smaller format UK stores, representing just 3% turnover, due to current market conditions. The Government’s rescue package will ...

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