Liverpool retail giant B&M sees share price plummet to almost record lows despite rise in quarterly revenues as pressure on margins spooks investors. Tony McDonough reports
Liverpool-based value retail giant B&M saw its share price plunge to almost record lows on Tuesday despite reporting a quarterly rise in sales.
B&M’s shares on the London Stock Exchange fell as low as 220.8p at one point, after opening at 240.5p. It did recover to 244.2p at one point before falling again. By the end of the day’s trading the price was back up to 241.1p.
South Liverpool-based B&M operates more than 1,100 stores in the UK and France and last year saw annual sales hit £5.6bn in the 12 months to March 29, 2025.
However, despite seeing a 4.4% rise in revenues for the 13 weeks to June 28, average selling price deflation impacted trading margins.
B&M UK saw like-for-like sales of 1.3%, driven by a good performance in April from its general merchandise outdoor ranges assisted by drier weather and Easter timing.
FMCG (fast moving consumer goods – goods that are sold quickly such as cleaning products) like-for-like sales for the quarter was negative.
However B&M added that performance in its health and beauty and cleaning categories has been “comparatively stronger” in June following the improvements made in operational execution.
B&M France continued to make good progress in the first quarter with sales up +1.1%. Heron Foods, its UK frozen food chain, continues to trade profitably following a number of years of “substantial growth”. Its new import centre at Ellesmere Port is also now operational.
New chief executive, Tjeerd Jegen, who took up his role in mid-June, said: “My early days spent listening to and learning from our passionate colleagues and customers have underlined for me the strength of our value-focused model, which is more crucial than ever in the current challenging economic climate.
“While B&M UK’s like-for-like sales are growing, I see a significant opportunity and requirement to sharpen our commercial and operational execution as we move towards and beyond the Golden Quarter.
“Looking ahead, my focus is on building on our strong foundations, leveraging our market position, and continuing to deliver exceptional value for our customers.”