Updates

B&M European Retail - Q1 sales rise 21%

September 2019

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.

Discount retailer B&M provided a confident update for its Q1 with revenue rising 21.4%. That included the UK side growing sales 13.8% including like-for-like growth of 3.9%. Jefferies notes that an ongoing recovery in the previously troubled home category has helped offset the subdued trading backdrop. Easter boosted sales by 1% but 3% underlying growth is still good relative to the soft market. During the period it opened a net 12 stores to leave 632 trading stores.Internationally, Jawoll in Germany increased sales 1.9% to £63.1m while the French business generated £72.6m sales, with clearance activity progressing in line with expectations.Jefferies forecasts eps to rise to 20.8p this financial year to 2020, ...

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